Relay's Cybeats Cybersecurity Platform Supports Android Operating System Significantly Expanding its Addressable Market Opportunity
Toronto, Ontario--(Newsfile Corp. - July 23, 2021) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company") is pleased to announce that its Cybeats cybersecurity platform now supports Android operating systems ("Android") for Internet of Things (IoT) devices in addition to the wide range of Linux systems supported by the integrated solution.
The number of IoT devices connected today is estimated to be over 10 billion1 and projected to grow to more than 25 billion within the next decade. Historically Linux has been the dominant OS for simple connected devices but with the recent growth and adoption of more complex applications, Android has grown to control nearly 73% of the worldwide mobile OS market.2
The addition of Android device support significantly expands the Cybeats' addressable market and establishes the platform as one of the few IoT cybersecurity solutions to service the dominant operating system. An internal study including Fortune 500 companies found the Android OS to be particularly popular among the medical connected device ecosystem.
"Manufacturers across IoT industries are scrambling to find solutions to protect themselves and meet the increasing regulatory demand. We are happy to be one of few solutions available to support developers across advanced operating systems," said Yoav Raiter, CEO Relay Medical Corp. "The future is connected, and Cybeats offers one of a kind protection for all of the complex operating systems through an agent with a fraction of the operating footprint."
Cybeats' powerful lightweight cybersecurity microagent has been successfully installed on Android devices deployed in the field including, first responders, airports, and in corporate and special event settings. The Cybeats solution allows for continuous live-time monitoring that provides alerts to investigate and determine malicious behavior without disrupting normal operating processes and delivers immediate remote firmware upgrades.
Android Market Opportunity
Android was the operating system released by Google in 20053, originally developed for use in all of its touchscreen devices, tablets, and cell phones. The system notably offers open-source licenses with ready-made and low-cost customizable features. Android OS actively operates on 3 billion devices globally4, and boasts a dominant 73% of the mobile devices market.5
CapitalG6, the investment fund managed by Google, invested $100 USD million into Armis7, a cybersecurity company that was purchased for $1.1 Billion USD8 in 2020. Google also recently invested $450M million USD into ADT home security9 to boost its connected IoT defenses10. In a recent medical device security industry article, Inegra Sources stated that "...the most prominent Linux-based OS is Android, which is an absolute winner in the market of mobile operating systems."11
RECENT NEWS: Relay recently announced an engagement with Canada's largest medical technology developer, StarFish Medical to provide the Cybeats platform for high-valued connected medical devices. The engagement includes the SBOM software to monitor security of the products being developed and can be licensed by StarFish clients for continued protection. The complete release can be found here: https://bit.ly/379hsLH12
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Cybeats is an integrated security platform designed to secure and protect high-valued connected devices. Cybeats' unique approach eliminates device downtime due to cyber-attacks and allows device manufacturers to develop and maintain secure and protected devices in a timely and cost-efficient manner. Cybeats is a wholly owned subsidiary of Relay Medical Corp.
About Relay Medical Corp.
Relay Medical is a technology innovator headquartered in Toronto, Canada focused on the development of novel solutions in the diagnostics and AI data science and IoT security sectors.
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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