TEL AVIV, Israel, July 10, 2018
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Summary of Highlights
Safe-T released its annual report on 29 May, 2018 detailing the following:
Growth in the company's revenues and in the backlog as well as an increase in the rate of cash burn in view of the increase in its activity in the US and Asian markets.
Safe-T recently completed a financing round, with participation from leading institutions and entities. The round totaled NIS 10.6 million (NIS 9.5 million net), part of which was closed at a premium.
We retain our previous estimate with an estimated value of $53 million / NIS 188 million, a target price of between NIS 8.91 and NIS 9.88; a mean of NIS 9.38.
About the company - Safe-T Group ("Safe-T"), listed on the Tel Aviv Stock Exchange since 2016, is a cybersecurity company that was founded in 2013 in Israel. The company develops and markets its Software Defined Access Solution, which is designed to mitigate attacks on business-critical services and data for a wide range of industries, including financial, healthcare, government, and manufacturing organizations. Deployed globally, HDS protects thousands of employees in enterprises and governments, securing their data, services, and networks from insider and external data threats. HDS mitigates data threats such as un-authorized access to data, services, and networks, as well as data-related threats that include data exfiltration, leakage, malware, ransomware, and fraud. Headquartered in Israel, Safe-T is active in North America, APAC, Africa, and Europe.
See full report here.
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