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Summary of Highlights
Safe-T released its annual report on 25 March, 2018 detailing the following:
The company developed and is now promoting, in partnership with its distributors, a dedicated certification program.
- The company believes that further measures taken during 2017, such as replacing distributors, recruiting a team in the US, appointing a CMO and so on, have laid strong foundations that will soon materialize into more contracts and increased revenues.
Going forward, Safe-T's growth strategy comprises;
- Monetization on its extensive distribution and partner network
- Boosting marketing and sales activities, focusing on enhancing their brand and reputation
- Continued investment in R&D, improving existing products and developing new ones
Safe-T's patented technology is recognized by experts and has been the recipient of prestigious awards such as the Fortress Cyber Security Award for Compliance and Authentication & Identity (April 2018) and a 2018 InfoSec Award (March 2018).
We view the company as an attractive one, but believe that it entails the typical risks for a small-cap company in the rapidly growing cybersecurity space.
- Major clients in each of the company's target industrial verticals, indicate market confidence.
- If the company successfully penetrates the North American and European markets, it may be acquired in the coming years, as the consolidation trend surges.
We maintain Safe-T's equity value at $53M / NIS 188M corresponding to a target price ranging between NIS 8.91 and NIS 9.88; a mean of NIS 9.38.
- Net Revenues (Gross Profit) in 2017 increased to $513K from $331K in 2016, an increase of 55%. The growth can be attributed to an expanded customer base.
- Safe-T's Software Define Access platform addresses real needs and a large and growing market totaling over $6 billion in 2018, according to Frost & Sullivan estimates
About the company - Safe-T Group Ltd. ("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, applications and data for a wide range of industries, including financial, healthcare, government and manufacturing organizations. Deployed globally, its product protects thousands of employees in enterprises and governments entities, securing their data, services, applications and networks from internal and external data threats. The software 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.
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About Frost & Sullivan
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