London-based AI-driven cyber security platform Darktrace is acquiring the Netherlands-based Cybersprint for €47.5 million ($53.7 million). The amount will be paid approximately 75% in cash and 25% in equity, valuing the transaction at approximately 12.5 times Cybersprint’s annual recurring revenue (ARR). The deal is expected to be completed by 1 March 2022.
The Netherland-based attack surface management company provides continuous, real-time insights from an outside-in perspective to eliminate blind spots and detect risks. The new deal is aligned with Darktrace’s vision of delivering a ‘Continuous Cyber AI Loop’ and complements its self-learning technology and inside-out view. Going forward, Darktrace will also gain its second European R&D centre in The Hague, Netherlands, which will join hands with the Cambridge hub.
Cybersprint’s attack surface management data will boost Darktrace’s Detect and Respond products with external vulnerability data and accelerate the company’s market entry into new areas such as proactive AI cyber security.
Poppy Gustafsson, CEO, Darktrace said: “Bringing inside-out and outside-in visibility together is critical and having access to the robust, rich, real-time external dataset combined with Darktrace’s Self-Learning AI means that customers get a holistic view of prioritised cyber risks to harden the parts of their organisation that are most vulnerable. With this acquisition, we are able to leverage Cybersprint’s seven years of R&D to accelerate our Prevent product family, ultimately making it much harder for cyber-attackers to carry out successful missions.”
“We are passionate about automating manual tasks in cybersecurity from an outside perspective. We believe attackers never sleep and operate without scope. We look forward to join Darktrace and work to accelerate state-of-the-art innovations to make organisations more cyber secure,” said Pieter Jansen, CEO, Cybersprint.