Safe-T Group Ltd [NASDAQ: SFET] declared that its division Safe-T USA Inc. purchased 100% equity interest in Chi Cooked LLC. Safe-T is a company that provides reliable access solutions for hybrid ecosystems. Meanwhile Chi Cooked is a company that specializes in cloud-based IP proxy services. This transaction will be financed by internal cash resources.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .
Sponsored
This acquisition will help accelerate Safe-T’s strategy to become a single place for dealing with all proxy related business. Furthermore, this purchase will also supplement the company’s division NetNut. Also, expand the company’s income source. The company paid $1.1M initially on the closing of the transaction. Safe-T might decide to pay up to 25% of the earn-out stock considering Chi Cooked 2021 revenue over $1.1M, subject to an operating margin of at least 37.5%. Chi Cooked founder and only shareholder will continue to operate as the company’s CEO.