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Scryb Announces New Contract Win for Cybeats with Fortune 500 Industrial Technology Company
December 19, 2022 8:45 AM EST | Source: Scryb Inc.
Toronto, Ontario--(Newsfile Corp. - December 19, 2022) - Scryb Inc. (CSE: SCYB) (OTCQB: SCYRF) (FSE: EIY) ("Scryb'' or the "Company"), is pleased to report that Cybeats Technologies Corp. ("Cybeats"), a public company which Scryb has approximately 65%[1] ownership, has announced a new commercial engagement for Cybeat's SBOM Studio[2] product with a Fortune 500 industrial technology company.
Cybeats recently announced a number of ongoing pilots which included this industrial technology company among other Fortune 500 companies from the medical and infrastructure sectors[3]. On Friday it was announced that the industrial technology company had acquired an annual Software as a Service (SaaS) license to Cybeats SBOM Studio, the enterprise SBOM management and software supply chain intelligence technology platform.[4]
"We are truly overwhelmed by the market's reaction to Cybeat's SBOM Studio. In less than 8 months from commercial launch Cybeats has added multiple Fortune 500 companies and multinationals to its group of clients and we are pleased to see that the company shows no signs of slowing down," said Clark Kent, President, Scryb Inc. "The positive feedback and commercial uptake of the product is very encouraging and we look forward to how sales will develop as the world gets closer to compliance deadlines and more companies get to experience using our platform."
The client will use SBOM Studio to manage cybersecurity risks and utilize the enhanced visibility over its software supply chain, and integrated cybersecurity workflow and operational efficiency, saving organizations both time and money.
The global industrial technology company manufactures products and provides services to clients world wide, in various market verticals, and is valued at over $50 billion USD. The solutions application offers enhanced cybersecurity workflow and operational efficiency, saving organization's both time and money. The customer wishes to remain confidential for security purposes.
The ability to manage SBOM's and the software supply chain is a critical need for industrial technology companies, and specifically, engineering services. The engineering services market was valued at over $700 billion[5] in 2022. As SBOM standards are adopted in the multiple sub sectors of services verticals such as power technologies, industrial automation and process control systems, the engineering services market becomes even more attractive for SBOM Management solutions like those Cybeats offers.
About Cybeats
Cybeats is a leading SBOM Management and software supply chain intelligence technology provider, helping organizations manage risk, meet compliance and secure software from procurement, development through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, as a result enables them to increase operational efficiencies and revenue. Cybeats. Software Made Certain. Website: https://cybeats.com.
About Scryb Inc.
Scryb develops and productizes emerging technologies and builds disruptive, high-growth businesses. Scryb's team identifies high-potential applications and its expert operators apply its proven technology development platform to rapidly scale growth. Scryb's most recent successes include exciting early-stage companies like cybersecurity company Cybeats Technologies (CSE: CYBT) which Scryb maintains ~65% ownership, and others across applied AI, digital health, medical devices, and biotech. To learn more, or to subscribe to future news and updates, visit: http://scryb.ai.
Contact:
W. Clark Kent
President
Office. 647-872-9982
TF. 1-844-247-6633
Email: info@scryb.ai
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.
[2] https://www.cybeats.com/sbom-studio
[5] https://www.factmr.com/report/engineering-services-market
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148576