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City of London

Foreign Buyers Hoover Up Britain’s Fast-Growing Tech Firms

  • Micro Focus, Avast, Darktrace and Aveva are all M&A targets
  • Tech’s small weighting in FTSE All-Share index set to shrink
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A wave of foreign buyers is coming after British technology companies, threatening to rob the UK market of what little exposure it still has to high-growth assets.

Canadian Open Text Corp.’s takeover offer for Micro Focus International Plc follows NortonLifeLock Inc.’s purchase of cybersecurity firm Avast Plc, interest from France’s Schneider Electric SE in industrial software developer Aveva Group Plc and US buyout group Thoma Bravo’s overtures toward Darktrace Plc. And GTCR said Tuesday it’s considering a bid for identity verification and fraud prevention company GB Group Plc.