Toronto, April 15, 2024 /CNW/ – Cybeats Technologies Corp. (“Cybeats” or “we”)(CSE: CYBT) (OTCQB: CYBCF), an industry-leading cybersecurity software company, is pleased to announce its SaaS (“Software as a Service”) agreement. SBOM studio1 A product in partnership with one of Europe's largest telecommunications providers. 30 billion dollars Market capitalization.
Open source software accounts for over 80% of the software used in modern applications2. SBOM Studio Help customers understand the security risks posed by software that includes third-party and open source components. The telecommunications multinational has more than 280 million customers who rely on their personal data and digital safety to be supported by organizations that are diligent, proactive and transparent in their cybersecurity practices. I look forward to being in your hands.
After entering new market areas, Cybeats has successfully partnered with some of the largest and most prolific organizations in the industry. Cybeats has achieved this in both the Medical Device Manufacturing (“MDM”) and Industrial Control Systems (“ICS”) areas, with Cybeats already ranking in three of the world's top 10 for MDM and the world's top ICS for ICS. 4 out of 10 secured. Therefore, the Company expects that its entry into the telecommunications industry has the potential to show significant commercial traction in this new field, as its proven track record shows.
“Partnering with a world leader in telecommunications is an important step in our commercial endeavors. When building SBOM Studio, Cybeats ensured that the product was industry agnostic, allowing for a diverse customer base and scalable reach, especially in high-potential industries driven by regulation.Regulatory authority Europe Organizations, including those in the communications sector, can no longer sit idly by and fail to choose a proactive approach to cybersecurity aimed at protecting their devices, users, and national security interests. ” Said Justin LedgerPresident and Representative Director of Cybeat Co., Ltd.
European companies that fail to comply with new cybersecurity requirements, including certain software bill of materials (“SBOM”) reporting, could be subject to administrative fines of up to €15 million or 2.5% of gross turnover.3 This increased oversight by the EU strengthens the market entry theory. SBOM studiosupporting commercial expansion through several G7 markets.Four Cybeats signed this initial one-year agreement. March 15, 2024 This was an important entry point into this highly regulated area, with influential cybersecurity obligations regarding the use of SBOM in the EU.
About Cybeat
Cybeats is a cybersecurity company that provides SBOM management and software supply chain intelligence technology to help organizations manage risk, meet compliance requirements, and protect software from procurement to development to operations. Our platform provides our customers with comprehensive visibility and transparency of their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeat. The software is solid. Website: https://cybeats.com
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Note regarding forward-looking information
Other than statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information often refers to words such as “plans,” “anticipates,” “plans,” “intends,” “believes,” “anticipates,” “estimates,” and other similar words or identifying characterized by statements that predict events or conditions. “may happen” or “will happen”. Forward-looking statements are based on opinions and estimates on the date the statements are made and are subject to various risks, uncertainties and other risks that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. affected by factors. these include, but are not limited to, delays and uncertainties associated with regulatory approvals, including the CSE; Forward-looking information is subject to uncertainties that involve factors beyond our control. There can be no assurance that the commercialization plans for the products described in this news release will become effective on the terms or within the timelines set forth herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions change, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedarplus.ca.
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Source Cybeats Technologies Corp.
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