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In other news…the cybersecurity firm Darktrace has announced plans to float on the London Stock Exchange, in a move that will reportedly value the Cambridge-based company at £3bn.

It is the first big company to have chosen the City for its initial public offering (IPO) since Deliveroo’s disappointing stock market debut last month.

Darktrace, founded in Cambridge in 2013, employs more than 1,500 staff globally and is backed by the tech entrepreneur Mike Lynch. It claims to have been the first to use artificial intelligence to detect and tackle cybersecurity threats on a large scale.

The firm, which has 4,600 customers including Rolls-Royce and memory chip producer Micron, said demand for some of its products surged last year as companies scrambled to keep up with security risks following the boom in homeworking during the Covid outbreak. Darktrace started offering its services to the NHS, free of charge, at the start of the pandemic.

The IPO will value Darktrace, co-headquartered in Cambridge and San Francisco, at about £3bn, making its chief executive Poppy Gustafsson’s stake worth about £20m, according to Sky News. More here: