LONDON (Reuters Breakingviews) - DARK HORSE. Darktrace’s initial public offering raises questions about its timing. The company which sells anti-hacking software is backed by Mike Lynch, the Autonomy founder who is facing extradition to the United States on fraud charges. Yet Darktrace Chief Executive Poppy Gustafsson on Monday unveiled plans for a London listing to turbocharge product development and bolster the Cambridge-based company’s balance sheet. Darktrace doesn’t appear to need the cash. Last year it generated revenue of $199 million and was operating cash flow positive. It had nearly $104 million of cash on its balance sheet at the end of December. It also managed to shrink its cost base during the pandemic. Darktrace wants to expand its market share of blue-chip companies like Coca-Cola and Rolls-Royce. Its current base of 4,700 clients is a fraction of the 150,000 it reckons it can target. New board members including former BT boss Peter Bonfield and Conservative peer David Willetts may help reassure prospective investors. Still, Darktrace’s haste is curious. (By Aimee Donnellan)