Shares in Darktrace, a British artificial intelligence and cybersecurity company, slumped by nearly 35% after the US private equity firm Thoma Bravo walked away from a potential takeover of the business, whose founder, Mike Lynch, is fighting extradition to the US on fraud charges.
Despite full-year results that showed an increase in sales, helping the Cambridge-based company turn a profit after last year’s heavy losses, investors sold off Darktrace stock in droves on Thursday, as the chances of a money-spinning takeover evaporated.
