‘US has left Darktrace vulnerable,’ tycoon Mike Lynch claims

Controversial tycoon Mike Lynch has claimed a ‘vindictive’ campaign against him by US authorities has left cyber-security firm Darktrace vulnerable to a takeover. 

The company, co-founded by the businessman, revealed last week that it was in discussions with US buyout group Thoma Bravo about a cash offer. 

Takeover concern: Darktrace revealed last week that it was in discussions with US buyout group Thoma Bravo about a cash offer

Lynch, who owns a combined 12 per cent of Darktrace with his wife Angela Bacares, claims it became vulnerable to the potential bid after a fall in its share price linked to efforts to extradite him to the US on fraud charges. 

Lynch denies claims against him which relate to the sale of software business Autonomy to US tech firm HP in 2011. 

Lynch’s spokesman told The Sunday Telegraph he ‘no longer has any role or involvement with Darktrace, so it is a great shame the US authorities’ determination to bring it into their vindictive pursuit of him has depressed its share price, and now a US private equity company will probably take it over’.