Safe-T Group Ltd (TASE:SFET) signed a non-binding letter of intent to acquire NetNut Ltd. and Assets Required for NetNut's Ongoing Operations from DiViNetworks Ltd. for $14.7 million on January 29, 2019. Pursuant to the letter of intent, Safe-T and NetNut will enter into definitive agreements within 40 days. Safe-T Group Ltd (TASE:SFET) signed an agreement to acquire NetNut Ltd. and Assets Required for NetNut's Ongoing Operations from DiViNetworks Ltd. on April 4, 2019. Under the terms, Safe-T will pay consideration in a combination of cash ($5.82 million) and equity ($3.88 million representing 69,461,737 Safe-T ordinary shares (approximately 1,736,543 American Depository Shares – ADSs)). The consideration may include an additional earn-out payment of $5 million in 2020, subject to the level of increase of NetNut's revenues during 2019 compared to 2018. Safe-T will pay $3.4 million to the shareholders of NetNut which will be paid through $1.6 million at the closing of the transaction, $0.18 million which will be deposited in escrow and $1.4 million will be paid by issuance of 24,347,410 Ordinary Shares. An additional $5 million will be paid to the shareholders of NetNut upon achieving certain revenue milestones in 2019. Safe-T will be paying the DiviNetworks $6.3 million, $3.5 million will be paid at closing, $0.32 million will be deposited in escrow and $2.5 million payable at closing through the issuance of 45,114,327 Ordinary Shares. Safe-T will acquire shares of NetNut and the assets required for NetNut's ongoing operations from its parent corporation. Safe-T entered into definitive agreements with two U.S. institutional investors for an aggregate $6 million convertible loan to finance the cash portion of the acquisition. NetNut shall continue to operate as a standalone entity in 2019. NetNut had unaudited revenues of $2.2 million in 2018. The closing of the transaction is subject to Safe-T's shareholders' approval and other closing conditions. The transaction is subject to effective registration statement under the securities act as to the shares and prefunded warrants. The Extraordinary General Meeting of Shareholders of Safe-T Group will be held on May 16, 2019 to approve the transaction. The deal is expected to close no later than 45 days after signing the definitive agreement. 85 Advisors, Inc. acted as the financial advisor to Safe-T Group Ltd.