Source: Cybeats Technologies Corp.
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  • Cybeats Technologies (CYBT) announced a new commercial agreement with a Fortune 500 industrial technology company
  • The company will receive an annual Software as a Service (SaaS) license to Cybeats’ SBOM Studio
  • Cybeats’ SBOM Studio is a software bill of materials (SBOM) management and software supply chain intelligence technology platform
  • Cybeats Technologies Corp is a software supply chain intelligence technology provider
  • Cybeats Technologies Corp. (CYBT) opened trading at C$1.60

Cybeats Technologies (CYBT) announced a new commercial agreement with a Fortune 500 industrial technology company.

The Fortune 500 company will receive an annual Software as a Service (SaaS) license to Cybeats’ SBOM Studio, an enterprise software bill of materials (SBOM) management and software supply chain intelligence technology platform.

The customer wishes to remain confidential for security purposes.

Cybeats recently reported on a number of ongoing pilots that included this industrial technology company among other Fortune 500 companies from the medical, infrastructure and industrial technology sectors. The pilot started several months ago, evaluating multiple solutions, and ultimately ended with Cybeats SBOM Studio winning the contract.

Cybeats CEO Yoav Raiter commented on the news.

“We are thrilled to welcome an organization of this scale to our customer base and to have meaningful validation from another Fortune 500 leader. Managing SBOMs and the software supply chain is a critical need for the industrial technology industry, and this engagement again demonstrates the SBOM Studio’s board application across the industry.”

The global industrial technology company manufactures products and provides services to clients worldwide in various market verticals and is valued at over US$50 billion. The client uses the SBOM Studio to manage cybersecurity risks and enhance visibility over software supply chains. The solutions application offers enhanced cybersecurity workflow and operational efficiency, saving organizations time and money.

Cybeats CTO Dmitry Raidman added,

“After extensive technical testing, the customer validated our solution against the competition and its value in securing the software supply chain. SBOM Studio is pioneering the way forward in SBOM Management capabilities, and our early customers affirm the value we deliver to their business.”

The engineering services market was valued at over $700 billion 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.

SBOM Studio allows organizations to manage SBOM and software vulnerabilities and proactively mitigate risks to their software supply chain. Key product features include 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 a reduced cost.

A software supply chain includes libraries, tools, and processes to develop, build, and publish a software artifact. Software vendors often create products by assembling open-source and commercial software components. 

Cybeats is an SBOM management and software supply chain intelligence technology provider, helping organizations manage risk, and meet compliance and security software from procurement, development through operation.

Cybeats Technologies Corp. (CYBT) opened trading at C$1.60.


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