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NetNut complements Safe-T's current services and has the potential to introduce opportunities in new markets and industries while increasing revenue and cash flow.
Safe-T also announced it has entered into definitive agreements with two US institutional investors for an aggregate USD 6.0m convertible loan which, primarily will be used by Safe-T to finance the cash portion of NetNut acquisition.
The order was channelled by Safe-T's distributor in the region and is conditioned upon receipt by the distributor of a formal back-to-back purchase order from the customer.
Safe-T Group is a provider of software-defined access solutions which mitigate attacks on enterprises' business-critical services and sensitive data.
“We are proud to be recognized as an industry player that has been named finalist by Info Security Products Guide,” said Ronen Kenig, VP of Marketing and Product Management at Safe-T. “Behind this distinguished success is our relentless drive to stay customer focussed.
Safe-T is a provider of secure data exchange solutions for a wide range of industries including financial, healthcare and manufacturing organizations.
Under the terms of the LOI, Safe-T will purchase all of the company's issued and outstanding shares.
Safe-T said the purpose of the acquisition is to combine Safe-T's Software Defined Perimeter offering with the purchased company's globally-located independent cloud-based service, providing Safe-T's customers with a cloud-based Software Defined Access service for the first time.
ECI Telecom currently uses Safe-T's RSAccess to tighten its DMZ security and enable secure sharing of sensitive information with its 2,400 employees, suppliers, partners and customers across the globe.
“At Safe-T we are committed to revolutionizing the way organizations utilize the DMZ.
Kenig brings to Safe-T more than 15 years of experience in various managerial roles in marketing, product management and R&D.
“We see a huge opportunity to strengthen our security offering and expand our customer base through Ronen's leadership,” said Amir Mizhar, CEO at Safe-T. “Our recent round of financing combined with his expertise in the security space has Safe-T well positioned to expand into the US and European markets.”