Darktrace has today announced the takeover of Cado Security, a London-based cybersecurity startup that specialises in cloud data.
The Cambridge-based firm says it intends to invest into Cado’s existing products while also combining its technology with Darktrace’s AI-powered security platform to provide stronger protection against cyber threats.
Founded in 2020, Cado conducts forensic investigations on cloud data with the goal of uncovering signs of compromise or threats. The firm’s technology automates the capture, processing, and analysis of data residing in cloud.
The deal is subject to regulatory approval and is expected to complete next month.
James Campbell, Cado’s CEO, said that the acquisition “[provides] and opportunity for growth and innovation” for the firm, adding that “Darktrace is an excellent fit for Cado”.
“Our technologies build on each other’s strengths, and we are incredibly excited to work with the Darktrace team to continue to elevate AI-driven cybersecurity capabilities”.
The acquisition is the first since the Cambridge-based cybersecurity provider was bought by Thoma Bravo, an American private equity firm, in October last year for over £4bn.
Jill Popelka, Darktrace’s CEO, said “the addition of Cado’s deep expertise […] will enhance our ability to protect customers, ensuring they can operate securely and confidently across all areas of their business.”
“Together, Darktrace and Cado will help customers quickly and effectively prevent and deter cyber threats, maintaining resilience in a fast-evolving threat landscape”, he continued.
Darktrace was co-founded by Mike Lynch and Poppy Gustafsson in 2013 and was an early leader in the UK’s AI sector through its espousal of the technology with cybersecurity.
Lynch founded the company using money from the sale of his enterprise software company Autonomy to HP in 2011. Following this he was the subject of a fraud investigation in both the UK and US after HP alleged that he over-valued the company. Lynch denied these allegations and was cleared of all counts in 2024.
Shortly after this, Lynch died in at sea when his yacht sank off the coast of Sicily in August.
Gustafsson worked as the company’s CEO before leaving in September last year amid its purchase by Thoma Bravo. She was made a life peer by prime minister Keir Starmer the next month and serves as the UK’s Minister of State for Investment.
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