Former BT boss appointed to the board of Darktrace ahead of a £4bn float
Sir Peter Bonfield, former BT chief executive, has been appointed to the board of Darktrace, ahead of a potential stock market offering that could see the Cambridge cybersecurity specialist valued at £4bn. With six years at the helm of BT and five decades in the tech sector, Bonfield has a great deal to offer Darktrace in terms of his tech experience. He is current chairman of the Dutch semi-conductor firm NXP and director of Taiwan based TSMC and also sits on the board at British chipmaker Imagination Technologies.
Darktrace is hoping to raise £4bn, making it one of the biggest debuts of the year on the London stock market. However, with the resignation of lead investment bank UBS last month, putting the IPO offering on hold. That news came amidst the backdrop of extradition proceedings against Mike Lynch, founder of Autonomy, relating to the $11bn acquisition by Hewlett Packard. Lynch was one of Darktrace's initial shareholders, who stepped down from the Darktrace board in 2018, severing his ties with the company.
In a statement made by Bonfield, "Darktrace is a critical technology for thousands of organisations around the world as they contend with increasingly sophisticated cyber-attackers."
"I'm excited to be working with Darktrace's board of directors to advance the company's important mission and success"