Safe-T Group (NASDAQ:SFET) Stock Suddenly Pops-Up 12%: But Why?

The nasdaq-listed company offering security applications for data-related threats, Safe-T Group (NASDAQ:SFET), had got into pandemic prepared well for tougher times. Safe-T CEO Shachar Daniel said that the firms were careful and budgets were closed due to unknown future at the start of the pandemic. Daniel added that the company harnessed the chance to engage with many new partners during the time and hoped that Return on Investment will help the company scale up.

It is estimated that about 60% of Americans feel being subjected to cyber hacking and the awareness of hacking is on the rise.

Daniel said that hackers can get in cameras, microphones, TV, mobile phone, laptop and this dramatically increased the consumer business.

The company increased its business organically such by buying of CyberKick Limited, a Software-as-a-Service security and privacy tools provider for countering threats. The CEO said that the company decided two years ago on building a company protecting consumers and enterprises from a privacy and security perspective.

The deal followed acquisitions of Chi Cooked LLC and NetNut Ltd. Daniel confirmed that the firm’s Zero Trust network security solutions is already gaining traction in the enterprise markets.

CEO Shachar Daniel reported that the firm is continuing to reach key milestones on becoming a leading player in the global cybersecurity and private industry.

The company said it is committed to pursuing objectives of cybersecurity and privacy protection sectors, as they are growing exponentially.