Darktrace announces proposed acquisition of Cado Security, a cloud investigation and response specialist

CAMBRIDGE, UK, Jan. 9, 2025 /PRNewswire/ -- Darktrace, a global leader in AI for cybersecurity, today announced the proposed acquisition of Cado Security (Cado), a UK-based cyber investigation and response solution provider for the hybrid and multi-cloud world. Cado Security delivers broad support across multi-cloud, container, serverless, SaaS, and on-premises environments, eliminating blind spots in incident response. The acquisition is subject to receipt of regulatory approval and is expected to complete in February.

A leader in cloud data capture and forensics, Cado examines the intricacies of nearly any system, capturing a snapshot of data stored on the device and then conducting forensic investigations to uncover signs of compromise or threats. Darktrace intends to accelerate the growth of Cado's existing products through investment while also combining Cado's forensic investigation technology with Darktrace's existing ActiveAI Security Platform™, enhancing data collection across multiple cloud environments to better defend customers' operations. This richer data set can also enable significant augmentation to Darktrace's Cyber AI Analyst™ which investigates alerts, streamlines investigations and prioritizes incidents, reducing workload and alert fatigue for customers' cyber teams.

Cado was founded by James Campbell, CEO, and Chris Doman, CTO. Prior to founding Cado, James served as a Director at PwC building the Cyber Incident Response service. James's background also includes a career in intelligence, previously leading Australia's National Incident Response capability as the Assistant Director of Operations at the Australian Signals Directorate. Chris is well known for building the popular threat intelligence portal ThreatCrowd, which then merged into the AlienVault Open Threat Exchange, and was subsequently acquired by AT&T. We look forward to welcoming James, Chris and the Cado team to Darktrace upon completion.

The proposed acquisition represents Darktrace's continued investment in its cloud capabilities, following the successful launch of Darktrace / CLOUD™ for AWS in October 2023 and its expansion to Microsoft Azure in October 2024. Cloud security is becoming increasingly crucial in supporting customers' cyber resilience in an AI age as companies migrate their data to cloud platforms as well as relying on cloud-based SaaS services for essential business operations. Darktrace's threat research identifies cloud and SaaS platforms as a common entry point for cybercriminals to attempt access to customers' networks^[1]. This, together with research from the 2024 Darktrace State of AI Cybersecurity report where security leaders identified cloud security as the top area where defensive AI could have the greatest impact^[2], highlights the need for cloud-native AI-powered cybersecurity solutions.

This announcement follows Darktrace's acquisition by Thoma Bravo in October 2024 and highlights both Darktrace and Thoma Bravo's commitment to accelerating Darktrace's growth through the development of AI-augmented cyber solutions for its customers, including through the expansion of Darktrace's research and development capabilities to continue to drive product innovation for an evolving cyber threat landscape. Cado's R&D teams in London and Bristol will work alongside Darktrace's established R&D centers in Cambridge, UK and The Hague, Netherlands to drive further innovation in Darktrace's Cloud Detection and Response capabilities.

Jill Popelka, Darktrace Chief Executive Officer commented: "At Darktrace, we have a clear and ambitious strategy: to develop best-in-class cybersecurity solutions for our customers that keep them safe through continuous innovation. The addition of Cado's deep expertise in cloud-based data collection and forensics 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."

Cado Security Co-Founder and CEO, James Campbell, commented: "Darktrace is an excellent fit for Cado, providing an opportunity for growth and innovation while allowing our team to advance their careers within a dynamic company deeply committed to R&D and to protecting its customers from growing cyber threats. 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 for our combined global customer base."

Notes to editors

Piper Sandler is the financial advisor to Darktrace on the transaction.

About Cado Security

Cado Security is the provider of the first investigation and response automation platform focused on revolutionizing incident response for the hybrid world. Cado significantly reduces response times by automating the capture, processing, and analysis of data residing in cloud, container, serverless, SaaS, and on-premises environments. Cado empowers security teams to add critical context to everyday security investigations on any system. Anywhere. Anytime.

About Cado Co-Founders:

James Campbell

With over 15 years' experience helping global organisations tackle sophisticated cyber espionage and criminal campaigns, James has a deep passion for cyber incident response, forensics and cyber crisis. Prior to founding Cado Security, Campbell served as a Director at PwC building the Cyber Incident Response service. Campbell's background also includes a career in intelligence, previously leading Australia's National Incident Response capability as the Assistant Director of Operations at the Australian Signals Directorate. James is an active thought leader having spoken at various conferences, including Black Hat, cloudsec, CRESTCon, and the Forensics Europe Expo.

Chris Doman

Chris is well known for building the popular threat intelligence portal ThreatCrowd, which then merged into the AlienVault Open Threat Exchange, later acquired by AT&T. Chris is an industry leading threat researcher, and has published a number of widely read articles and papers on targeted cyber attacks. His research on topics such as the North Korean government's crypto-currency theft schemes, and China's attacks against dissident websites, have been widely discussed in the media.

About Darktrace

Darktrace is a global leader in AI for cybersecurity that keeps organizations ahead of the changing threat landscape every day. Founded in 2013, Darktrace provides the essential cybersecurity platform protecting organizations from unknown threats using its proprietary AI that learns from the unique patterns of life for each customer in real-time. The Darktrace ActiveAI Security Platform™ delivers a proactive approach to cyber resilience with pre-emptive visibility into security posture, real-time threat detection, and autonomous response – securing the business across cloud, email, identities, operational technology, endpoints, and network. Breakthrough innovations from our R&D teams in Cambridge, UK, and The Hague, Netherlands have resulted in over 200 patent applications filed. Darktrace's platform and services are supported by over 2,400 employees around the world who protect nearly 10,000 customers across all major industries globally. To learn more, visit http://www.darktrace.com.

[1] Darktrace, End of Year Threat Report: Analysis of the Second Half of 2023

[2] Darktrace State of AI Cyber Security Report, 2024

SOURCE Darktrace