HERZLIYA, Israel – July 31, 2017: Safe-T Group Ltd. (TASE: SAFE, OTCQB: SFTTY) is pleased to announce that its wholly owned subsidiary, Safe-T Data A.R. Ltd. (“Safe-T”), a provider of secure data exchange and access solutions, signed a distribution agreement with Turkish Encode Consultancy, a provider of information security and cyber solutions in Turkey for 13 years. Under the terms of the non-exclusive agreement, Safe-T granted Turkish Encode Consultancy the right to promote, advertise and market licenses for Safe-T’s products, SDE and SDA, in Turkey, as stand-alone offerings or combined with third-party products.
Under the terms of the agreement, the engagement by Turkish Encode Consultancy with end users is subject to Safe-T’s approval, at its sole discretion, following which Safe-T will be paid by Turkish Encode Consultancy in accordance with the agreed-upon pricelist after such engagements are approved and executed. The agreement is for one year, at the end of which it will be automatically renewed for five additional consecutive one-year terms. Following the first term, the agreement may be terminated upon a 30-day notice before the end of any additional one-year term. Safe-T is also entitled to cancel the agreement in the event of a change of control of the distributor. Safe-T regards this agreement as an opportunity to further expand and strengthen its presence in Turkey and the uptake of its products within a comprehensive security solution to clients in Turkey, thereby expanding its customer base and increasing its revenues.
About Safe-T
Safe-T® Data (www.safe-t.com), a wholly owned subsidiary of Safe-T Group Ltd. (TASE: SAFE, OTCQB: SFTTY), is a provider of solutions designed to mitigate attacks on business-critical services and data for a wide range of industries, including: financial, healthcare, government and more. Safe-T’s High-risk Data Security (HDS) Solution mitigates data threats such as un-authorized access to data, services, networks, or APIs; as well as data related threats, including data exfiltration, leakage, malware, ransomware, and fraud. Companies and Governments around the world trust Safe-T to secure their data, services, and networks from internal and external data threats. Focused on providing security solutions for the enterprise market, Safe-T enables organizations to benefit from enhanced productivity, efficiency, security, and improved regulatory compliance. Safe-T operates in North America, APAC, Africa, Europe, and Israel.