Toronto, Ontario–(Newsfile Corp. – April 8, 2022) – Scryb Inc. (CSE: SCYB) (OTCQB: SCYRF) (FSE: EIY) (“Scryb” or the “Company”), is pleased to announce that it has entered an agreement with an American multinational technology corporation for a software evaluation licence of Cybeats’ enterprise cybersecurity product suite.
The corporation will trial the Cybeats SBOM Studio, which is an enterprise Software Supply Chain Risk Management product that is used for SBOM (Software Bill of Materials) document management, repository, and more. The entity operates in the business of computer software, consumer electronics, and related services, and which comprises multiple verticals that require the latest innovative security solutions. The Fortune 500 company is part of the ‘Big Five’ American information technology companies, and one of the largest companies in the world by total revenue.
“Since commencing commercial operations in late 2021, Cybeats SBOM Studio enterprise product suite has engaged with and is in various commercial stages with several multi-billion-dollar companies, and in this case, with one of the largest tech companies worldwide. We are experiencing significant traction along with strong signals from the market that software supply chain security is paramount to a corporation’s internal capabilities, to mitigate cyber risks and increase the security posture across their products,” said Yoav Raiter, CEO, Scryb.
An SBOM is a record of all software components that make up a product. It is a complete, formally structured list of components, libraries, and modules that are included in the software. An analogy for SBOM is the nutritional ingredients list found on everyday food products, such as a can of coke. A Coca Cola ingredient list includes information that can be used to gauge allergy risk, expiry dates, and other food safety information. Just as food products are mandated to provide this list to consumers, SBOM is quickly becoming a similar standard in the software industry.
The Whitehouse signed an executive order in May 2021, for example, stipulating that all vendors responsible for supplying software to federal agencies must provide an SBOM. Organizations and governments are growing more aware of the importance of software supply chain security. Many regulations take effect in and around August 2022, and others are to follow thereafter. It is anticipated that SBOM will become a global standard across industries.
Cybeats SBOM Studio gives access to one-of-a-kind tools to manage SBOM needs and software vulnerabilities, and provides proactive mitigation of risks to their software supply chain. Key product features include:
- SBOM document management and repository
- Vulnerability, threat insights, risk management
- Software license infringement alerts
- SBOM exchange with regulatory authorities, at reduced cost
The Company is not making any expressed or explicit claims that the agreement discussed herein has, or will necessarily lead to, commercial engagements that involve financial or commercial revenues for any Cybeats product lines or for Scryb Inc.
RECENT NEWS: Cybeats recently appointed Bob Lyle, cybersecurity industry leader, as Chief Revenue Officer. To read the full story: https://bit.ly/3r8AMTz
Cybeats delivers intelligent security applications for software supply chains and IoT connected devices, autonomously detecting and eliminating cyber risks from design to operation. Cybeats – Software Made Certain. Website: www.cybeats.com
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Scryb is a platform that powers businesses and technologies with applied intelligence, real-time analytics, and actionable insights. The platform boasts proven adaptability across diverse markets, from digital health and diagnostics to cybersecurity and manufacturing. The cloud-based platform is composed of crucial elements including sensor technology, IoT, predictive analytics, and computer vision.
For more information, please visit our website at: http://scryb.ai
W. Clark Kent
Email: [email protected]
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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