Darktrace, a leading cybersecurity firm, announced its proposed acquisition of UK-based Cado Security, a company specializing in cyber investigation and response solutions. The deal, set to close in February, has not disclosed its financial terms. However, reports suggest that the acquisition could range between $50 million and $100 million, subject to regulatory approval. Darktrace confirmed that while the figures reported are not recognized by them, they would not disclose the exact price of the acquisition.
Cado Security provides a robust solution for cyber investigation and response, particularly in multi-cloud, container, serverless, SaaS, and on-premises environments. The company’s technology captures device data to conduct in-depth forensic investigations, identifying threats and compromises. Darktrace plans to integrate Cado’s products into its existing offerings, with a particular focus on combining Cado’s investigative tools with its proprietary ActiveAI platform, which aims to enhance its cybersecurity services.
Cado Security’s founders, James Campbell (CEO) and Chris Doman (CTO), along with their team, will join Darktrace as part of the acquisition. Since its founding in 2020, Cado has raised over $31 million in funding, including $10 million in Series A and $20 million in Series B. The company’s success in attracting investment highlights the growing demand for advanced cybersecurity technologies that can address complex multi-environment risks.
In 2024, Darktrace was acquired by private equity firm Thoma Bravo for $5.32 billion. Despite the challenges posed by the passing of Darktrace co-founder Mike Lynch, who tragically died in a maritime accident, the company remains committed to expanding its cybersecurity offerings through strategic acquisitions like Cado Security. This acquisition aligns with Darktrace’s ongoing efforts to strengthen its position in the rapidly evolving cybersecurity landscape.
