Scryb Announces Software Evaluation Agreement with Global Building Technology Leader for Cybeats Cybersecurity Platform
Toronto, Ontario--(Newsfile Corp. - May 18, 2022) - Scryb Inc. (CSE: SCYB) (OTCQB: SCYRF) (FSE: EIY) ("Scryb'' or the "Company") is pleased to report on the signing of software evaluation licence agreement for Cybeats cybersecurity platform with a global leader in building technologies and security equipment that is renowned for its history of 'smart building' innovation.
The evaluation licence agreement is with a Fortune Global 500 multinational that has a team of over 100,000 working in more than 150 countries. The entity offers the world's largest portfolio of building technology, products, software, and services to the healthcare, school, data center, airport, stadium, manufacturing industries. The entity will trial the SBOM Studio product suite which provides software supply chain security solutions to manage vulnerabilities and mitigate cybersecurity risks across the enterprise.
"Managing software supply chain security needs of international technology leaders is exactly the type of engagement the Company is working towards. We are pleased with the advancements and the addition of many leading multinationals to our commercial pipeline. After winning a commercial contract with a large cryptocurrency exchange this week, the Cybeats team is pleased with its momentum and poised to continue to accelerate its commercial expansion," said Yoav Raiter, CEO, Scryb.
Cybeats recently won an annual contract with unlimited users for Cybeats SBOM Studio after a four-month sales cycle that included technical product demos, procurement processes, and a software evaluation trial deployment which commenced in February 2021.
Cybeats Smart Buildings Webinar
Cybeats recently hosted a live industry webinar 'Building Automation, Smart Buildings and Smart Cities': https://www.youtube.com/watch?v=6yzbQxELTJ4
The webinar panelists included Fred Gordy, Director of Cyber Security at Intelligent Buildings LLC , Andrew Kling, Industry Automation VP Cybersecurity and Product Security Officer at Schneider Electric and Dr. Andreas Kuehn, Senior Fellow at Observer Research Foundation America. The panel was moderated by Evgeniy Kharam, VP of Cybersecurity Solution Architecture.
An SBOM is a record of all software components that make up a product. It is a complete, formally structured list of components, libraries, and modules that are included in the software. An analogy for SBOM is the nutritional ingredients list found on everyday food products, such as a can of coke. A Coca Cola ingredient list includes information that can be used to gauge allergy risk, expiry dates, and other food safety information. Just as food products are mandated to provide this list to consumers, SBOM is quickly becoming a similar standard in the software industry.
The Whitehouse signed an executive order in May 2021 stipulating that all vendors responsible for supplying software to federal agencies must provide an SBOM. Organizations and governments are growing more aware of the importance of software supply chain security. Many regulations take effect in and around August 2022, and others are to follow thereafter. It is anticipated that SBOM will become a global standard across industries.
Cybeats SBOM Studio gives access to one-of-a-kind tools to manage SBOM needs and software vulnerabilities, and provides proactive mitigation of risks to their software supply chain. Key product features include:
- SBOM document management and repository
- Vulnerability, threat insights, risk management
- Software license infringement alerts
- SBOM exchange with regulatory authorities, at reduced cost
The Company is not making any expressed or explicit claims that the agreement discussed herein has, or will necessarily lead to, commercial engagements that involve commercial revenues for any Cybeats product lines or for Scryb Inc.
RECENT NEWS: Cybeats recently announced its first commercial contract for its SBOM Studio product suite with a billion-dollar cryptocurrency exchange. Read the full story: https://bit.ly/37XWJ1m
Cybeats delivers intelligent security applications for software supply chains and IoT connected devices, autonomously detecting and eliminating cyber risks from design to operation. Cybeats - Software Made Certain. Website: www.cybeats.com
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Scryb is a platform that powers businesses and technologies with applied intelligence, real-time analytics, and actionable insights. The platform boasts proven adaptability across diverse markets, from digital health and diagnostics to cybersecurity and manufacturing. The cloud-based platform is composed of crucial elements including sensor technology, IoT, predictive analytics, and computer vision.
For more information, please visit our website at: http://scryb.ai
W. Clark Kent
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
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