CyberKick

growth-positive

Safe-T Group Ltd. has announced the acquisition of CyberKick Ltd., a provider of Software-as-a-Service (SaaS) security and privacy tools. The acquisition is expected to complement Safe-Ts secure access portfolio and expand its presence in the private users cybersecurity market. CyberKick generated approximately $4.2 million in revenue in 2020 and was profitable. The initial consideration for the acquisition was a combination of cash ($3.7 million) and equity ($5.6 million). Safe-T may pay an additional earn-out payment of up to $3 million based on certain revenue targets. Safe-T also committed to providing $2.5 million in financing to support CyberKicks growth. The acquisition is part of Safe-Ts strategic roadmap to become a leading company in the security and privacy markets. The transaction is expected to close next week.