Toronto, Ontario--(Newsfile Corp. - July 14, 2022) - Scryb Inc. (CSE: SCYB) (OTCQB: SCYRF) (FSE: EIY) ("Scryb' or the "Company"), is pleased to report on the signing of an agreement with a leading cybersecurity firm and advisor to Government of Canada departments on SBOM (Software Bill of Materials), software supply chain security and to support the commercial distribution of Cybeats' cybersecurity products within Canada and internationally.
Scryb's Cybeats cybersecurity platform includes two product suites, which address IoT security and software supply chain markets. One of its products, SBOM Studio, works to proactively mitigate software supply chain risk and support organizations' SBOM compliance, while significantly improving operational efficiency and workflow. The IT firm will act as an independent sales representative and support commercial distribution of Cybeats' products and services to its extensive network of clients, including the public sector in Canada.
"We are excited to partner with a cybersecurity solutions leader and trusted advisor to the Canadian Federal Government. This agreement uniquely positions Cybeats to gain significant traction with the government, and apply its products within regulated software markets where compliance mandates are anticipated across multiple sectors in the near future. The Company is excited to report on developments from this partnership down the line." said Yoav Raiter, CEO, Cybeats.
The organization currently advises the Canadian Federal Government with regard to its open data, open source, and software supply chain security related practices. The firm also advises many other significant entities on international cloud computing practices, including large organizations such as NIST (National Institute of Standards for Technology) and ITU-T (International Telecommunications Union).
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 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 commercial revenues for Scryb Inc.
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
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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