Darktrace has 1500 staff and 4700 customers across the world.
The list of advisers on the float is notable for the absence of Goldman Sachs, JP Morgan, perhaps tainted by the Deliveroo float.
The IPO will be led by Jefferies, the US investment bank that floated Manchester United, Berenberg, KKR, Needham & Company and Piper Sandler.
Darktrace got early backing from Mike Lynch’s Invoke Capital. Lynch is awaiting the verdict of a trial in which HP alleges he orchestrated an accounting fraud over the sale of Autonomy for $10 billion.
The float of Darktrace is likely to take place in a month or so.
Gustafsson added: “Darktrace’s success has been built on the shoulders of giants: our world-leading position is testament to the strength of the UK’s world-leading science base and long history of mathematical discovery and computing inventions, from Charles Babbage and Ada Lovelace to Alan Turing. We are proud to be part of that tradition of British innovation, as the UK becomes a leading global centre for the development of AI.”
Russ Mould, investment director at AJ Bell, said:
“There is a lot riding on Darktrace’s forthcoming IPO after Deliveroo’s stock market flop. The food delivery company’s IPO disaster has put a cloud over the UK tech sector and whether other tech entrepreneurs would really want to risk floating their company in London.
“If Darktrace manages to float its shares successfully and see them rise in value once trading begins then sentiment may improve towards London as a listing venue.”
Deliveroo was today trading at 262p, down from 390p on flotation.
