Scryb Reports on Cybeats Milestone Contract with a Global Leader in Energy Management

December 27, 2022 10:53 PM EST | Source: Scryb Inc.

Toronto, Ontario--(Newsfile Corp. - December 27, 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 maintains approximately 65% ownership¹, has announced its largest commercial engagement to date. The multi-year SaaS engagement is with a global leader in energy management and digital automation, active in 100 countries with approximately 30 billion euros in annual revenue.

Cybeats' multi-year engagement is to provide its leading SBOM Studio² solution to the global infrastructure leader to reduce the cost of securing its products, streamlining the discovery and resolution of software vulnerabilities across the organization. This announcement comes just one week after Cybeats announced a new commercial agreement with a Fortune 500 industrial technology leader³, and several new client pilots including a top five global video game producer.⁴

"The commercial performance of Cybeats continues to exceed expectations and we are very excited by the growing client base of multibillion dollar institutions and global industry leaders," said W. Clark Kent, President, Scryb Inc. "In less than 8 months from commercial launch, the company's solutions have been adopted and validated by some of the largest organizations in the world across a multitude of industries, and we are eager to move into the next phase of expansion as commercial exposure ramps up, revenue growth continues to accelerate, and the broader market follows suit."

SBOMs have emerged as a catalyst for transformation in cybersecurity across nearly all sectors to improve visibility and security of the software supply chain. Organizations face growing challenges with widespread SBOM implementation due to the scale of change and manual work required. SBOM Studio is specifically designed to automate SBOM management, accelerate vulnerability management and simplify SBOM implementation, ultimately improving the ROI of embedding SBOM across an organization.

Cybeats SBOM Studio

SBOM Studio provides organizations with the capability to efficiently manage SBOM and software vulnerabilities and provides proactive mitigation of risks to their software supply chain. Key product features include robust software supply chain intelligence, universal SBOM document management and repository, continuous vulnerability, threat insights, precise risk management, open-source software license infringement and utilization, and secure SBOM exchange with regulatory authorities, customers and vendors, at reduced cost.

A software supply chain is composed of the components, libraries, tools, and processes used to develop, build, and publish a software artifact⁵. Software vendors often create products by assembling open source and commercial software components. A "software bill of materials" (SBOM) has emerged as a key building block in software security and software supply chain risk management. A SBOM is a nested inventory, a list of ingredients that make up software components.⁶

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

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1} https://www.scryb.ai/news/scryb-reports-on-successful-listing-of-cybeats-technologies-and-related-activities² https://www.cybeats.com/sbom-studio
³ https://www.cybeats.com/news/cybeats-announces-new-commercial-agreement-with-fortune-500-industrial-technology-company⁴https://www.cybeats.com/news/cybeats-announces-trial-engagement-with-s-p-500-interactive-home-entertainment-company-penetrates-new-gaming-vertical-with-one-of-the-worlds-largest-gaming-companies⁵ https://en.wikipedia.org/wiki/Software_supply_chain⁶ https://www.cisa.gov/sbom