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In this photo illustration a DarkTrace logo is displayed on a smartphone with stock market percentages in the background. LONDON — British cybersecurity firm Darktrace on Friday announced it had agreed a sale to U.S. private equity giant Thoma Bravo, for an all-cash offer of $5.315 million. Darktrace shares were 17% higher at 10:26 a.m. London time. Darktrace was founded in 2013 and is based in the U.K. city of Cambridge, which has attracted a cluster of tech firms over the last decade. Darktrace on Friday said it had rejected previous unsolicited proposed offers from Thoma Bravo because the tech company assessed they did not fairly value the business.
Persons: Darktrace, Thoma, Thoma Bravo, Mike Lynch Organizations: Thoma Bravo, London Stock Exchange Locations: London, U.S, Asia, U.K, Cambridge, Darktrace, Thoma
Mathisworks | Digitalvision Vectors | Getty ImagesLegal technology firm Luminance has raised $40 million in fresh funding from investors to grow its U.S. footprint, capitalizing on the wave of investor interest surrounding artificial intelligence. The company told CNBC that it raised the fresh capital in a Series B funding round led by U.S. venture fund March Capital. "We had lots of interest from lots of VCs," Eleanor Lightbody, CEO of Luminance, told CNBC in an interview on Tuesday. Lightbody said that businesses are investing in AI tools like Luminance's to keep a competitive edge, as well as to reduce costs. Luminance is one firm of the many generating buzz from investors thanks to the hype swirling around artificial intelligence.
Persons: Slaughter, Eleanor Lightbody, Lightbody Organizations: CNBC, U.S, National Grid Partners, National Grid, Koch Industries, Hitachi, Yokogawa, Liberty Mutual, LG Chem, BBC Studios, University of Cambridge, Companies, Mistral, Microsoft, Amazon, Investors
Every morning in his townhouse in the tony San Francisco neighborhood of Pacific Heights, the man once referred to as Britain’s Bill Gates gets to work. That man, Mike Lynch, checks in with his investment firm, Invoke Capital, on its recent performance. He receives updates on the heritage Red Poll cattle and other livestock at his farm in Suffolk, in the east of England. Eventually, Mr. Lynch, 58, turns to his most important task: defending himself against 16 criminal counts of conspiracy and fraud. The trial begins on Monday in San Francisco, where federal prosecutors — who extradited Mr. Lynch from Britain in May and placed him under house arrest — have accused the former tech mogul of defrauding Hewlett-Packard of billions when he sold HP his software company, Autonomy, for $11 billion in 2011.
Persons: tony, Bill Gates, Mike Lynch, Lynch, , Mr Organizations: tony San, Red Poll, Hewlett, Packard, Autonomy Locations: tony San Francisco neighborhood, Pacific Heights, Cambridge, England, Suffolk, San Francisco, Britain
Read previewOn Thursday, Republican Rep. Lauren Boebert faced several GOP opponents in the first primary debate for Colorado's 4th congressional district. Related stories"My boys and I needed a fresh start," said Boebert. In the CO-04 GOP primary debate last night, @RepBoebert was asked by opponent @LynchForCO to "give the definition of carpetbagger." "My boys and I needed a fresh start," said Boebert. pic.twitter.com/pQ5Jslc7wr — bryan metzger (@metzgov) January 26, 2024Boebert had been facing a bruising reelection bid in her old district, which she won by less than 600 votes in 2022.
Persons: , Lauren Boebert, It's, Boebert, That's, Mike Lynch, Colorado House —, Lynch, Mary, Jayson, @RepBoebert, @LynchForCO, pQ5Jslc7wr — bryan metzger, @metzgov, Deborah Flora, Sen, Kerry Donovan, wouldn't, Donovan Organizations: Service, Republican, GOP, Business, Colorado House, Capitol, Democrat Locations: Colorado, Denver, Fort Lupton, Colorado's
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAt her first primary debate in the new district in Colorado that she's running for office in, Republican Rep. Lauren Boebert and five other candidates smiled and raised their hands when asked who'd ever been arrested. In it, as Boebert and the majority of her competition raised their hands, the crowd can be seen loudly cheering. VIDEO: Incredible moment in first GOP debate for CD4 as candidates are asked to raise their hands if they’ve been arrested…Six candidates raised their hands, including Lauren Boebert and Mike Lynch. At the end of December 2023, Boebert announced she'd run for reelection, though this time in the 4th Congressional District to try to replace outgoing Rep. Ken Buck.
Persons: , Lauren Boebert, who'd, they’ve, Mike Lynch, — Chris Perez, Boebert, Adam Frisch, she'd, Ken Buck, 9News Organizations: Service, Republican, Business, Denver, Colorado Times, Fox, Democratic, Congressional, Congressional District Locations: Colorado, @yankee_MSU, Colorado's, Denver
DENVER (AP) — Colorado Republican state Rep. Mike Lynch announced he's stepping down as minority leader Wednesday, a week after The Denver Post reported that Lynch was arrested in 2022 on suspicion of drunken driving and possession of a gun while intoxicated. Lynch is also running for Congress in Colorado's 4th District, a hotly contested race recently joined by Republican Rep. Lauren Boebert after she announced she was switching districts. “I want it to be clear that I’m not stepping down because I won a close vote of no confidence,” Lynch said to gathered lawmakers on the House floor. The report details Lynch telling King he was a supporter of law enforcement and asking the trooper to call Colorado State Patrol’s legislative liaison at the state Capitol. A vote to elect a new minority leader will be held Thursday morning.
Persons: Mike Lynch, he's, Lynch, Lauren Boebert, ” Lynch, I've, Matthew King, King, didn’t, Organizations: DENVER, , — Colorado Republican, Denver Post, Republican, Colorado State Patrol, The Denver Post, Colorado State, Associated Press Locations: — Colorado, Colorado's 4th, Fort Collins , Colorado
The narrow margin in Congress leaves both major parties fighting fiercely for every available seat in 2024. “By Lauren Boebert district shopping and becoming a carpetbagger so she can keep her office in D.C., she has now become part of the swamp,” he said. Still, Boebert is joining a race that is practically guaranteed to elect a Republican anyway, said Galdieri. Before she switched districts, Boebert had apologized up and down Colorado’s 3rd district as part of her last-ditch strategy against Frisch. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.
Persons: , Lauren Boebert, Donald Trump, , Robin Varhelman, She’s, Big, Boebert, Boebert's, vaping, Adam Frisch, tangibly, ” Boebert, , Richard Hudson, Frisch, he’s, Jeff Hurd —, Mike Johnson, Richard Holtorf, Lauren, Christopher Galdieri, who’ve, — she’s, Dawn Whitney, Whitney, Holtorf, Mike Lynch, she’s, Mark Moorman, She’d, that’s, Seth Masket, Debbie Spear — Organizations: Colo, Colorado Republican, U.S ., Trump, Republican, U.S . House, GOP, Democrat, National Republican Campaign, Saint Anselm College, Republicans, Representatives, Center, Associated Press, America Statehouse News Initiative, America Locations: Colorado, U.S, Washington, Brush, Denver, Lauren Boebert, New Hampshire, she’s, Boebert, Colorado’s House, Colorado’s, Texas
Mike Lynch, former chief executive officer of Autonomy Corp departs the Rolls Building on June 27, 2019 in London, England. LONDON — British tech entrepreneur Mike Lynch has been extradited to the U.S. to face fraud charges in relation to the sale of his software company Autonomy to Hewlett Packard . He face charges of securities and wire fraud in relation to the sale of his company Autonomy to HP for $11 billion. Lynch isn't the first Autonomy employee to face charges in the U.S. Some in the U.K. tech industry believe that Lynch should not have been extradited.
He had appealed to the High Court to overturn a decision by Britain's home secretary (interior minister) to order his extradition in January. But two High Court senior judges did not even grant him permission for an appeal. "The United States’ legal overreach into the UK is a threat to the rights of all British citizens and the sovereignty of the UK," he said in a statement. HP sued Lynch in London's High Court following the deal. Hussain was convicted of fraud in the United States and sentenced to five years in prison in 2019.
LONDON, March 15 (Reuters) - Tech entrepreneur Mike Lynch asked a London court to block his extradition to the United States to face criminal charges over Hewlett Packard's $11 billion acquisition of his software company Autonomy, arguing he should be prosecuted in Britain. Lynch – the co-founder of Autonomy, who was once hailed as Britain's answer to Bill Gates – faces 17 charges over the 2011 takeover, which was one of Britain's biggest tech deals. Britain's interior ministry on the same day ordered Lynch's extradition to the United States. Bailin also gave updated details of HP's civil lawsuit against Lynch and Hussain, who was jailed in a San Francisco court for five years in 2019. Lynch intends to apply for permission to appeal against the ruling on HP's lawsuit, Bailin said in court filings.
Darktrace hires EY for independent review of finances
  + stars: | 2023-02-20 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Feb 20 (Reuters) - British cyber security company Darktrace (DARK.L) said on Monday it had commissioned a third-party review of its finances by EY, weeks after a short-seller questioned its results. Darktrace said the appointment of the auditor EY, formerly known as Ernst & Young, was a sign of its confidence in its financial processes. The group said it was "deeply skeptical about the validity of Darktrace's financial statements," prompting Darktrace to issue a rebuttal. Darktrace said in its statement on Monday that it was appropriate for a third party review to confirm the company's financial position. As a sign of that confidence, we have commissioned this independent third-party review by E&Y," chairman Gordon Hurst said.
Omar Marques | SOPA Images | LightRocket via Getty ImagesCybersecurity company Darktrace , one of the U.K.'s most prominent tech names, has found itself under attack from short sellers. Short selling is a strategy in which investors bet on the price of a stock going down in value. Darktrace, one of the U.K.'s largest cybersecurity companies, was founded in 2013 by a group of former intelligence experts and mathematicians. "This has been, and remains, a very small part of Darktrace's marketing and the costs of them over the last five years has consistently been substantially below 0.5% of Darktrace's revenue," Darktrace added. The Lynch connectionIt's worth noting that, even before the QCM report, there were clouds hanging over Darktrace's business.
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