Safe-T Group Ltd (TASE:SFET) agreed to acquire CyberKick Ltd. for $12.3 million on July 1, 2021. The initial consideration paid on the closing of the transaction, for the sale and purchase of 100% of the equity interest in CyberKick Ltd., was a combination of cash of $3.7 million and equity representing approximately 163 million of Safe-T Group Ltd’s ordinary shares – approximately 13.5% of the outstanding share capital post-acquisition. The consideration may be increased by an additional earn-out payment of up to $3 million in total, subject to certain revenue targets of CyberKick Ltd., during the first and second year following the closing of the transaction. Safe-T Group Ltd may decide, at its sole discretion, to pay the earn-out consideration in whole or in part in equity. The cash consideration will be funded with internal cash resources. Safe-T committed to support and boost CyberKick Ltd.’s growth by providing financing of $2.5 million in the 24 months following the acquisition. For the year 2020, CyberKick Ltd., generated revenues of approximately $4.2 million. The transaction is subject to certain customary closing conditions, including the delivery of all required documents and approvals. The closing of the transaction is expected next week. Dawson James Securities, Inc., acted as financial advisor and fairness opinion provider to Safe-T Group Ltd. Safe-T Group Ltd (TASE:SFET) completed the acquisition of CyberKick Ltd. on July 4, 2021.