Cybeats Technologies Corp. is pleased to announce the signing of a three-year software licence agreement for Cybeats SBOM Studio1 with a global leader in building technology and industrial automation, to manage their Software Bill of Materials (SBOM) and improve security across the software supply chain.
This multi-year agreement will see SBOM Studio deployed by one of the world’s leading providers of building technology, software, and services for hospitals, schools, data centres, airports, stadiums and manufacturing industries worldwide. This agreement is the largest commercial agreement to date for Cybeats, exceeding the Company’s previously announced largest contract to date2, and marks the third major contract with a multi-billion dollar global industrial technology leader, positioning the company for continued growth across this large industry vertical.
“SBOM Studio continues to demonstrate its immediate value and industry-leading capabilities across several critical infrastructure sectors which is translating into commercial success,” said Yoav Raiter, CEO, Cybeats. “Industrial technology is amongst the most vulnerable targets for software supply chain attacks, and having several Fortune 500 industry leaders choosing SBOM Studio provides us the evidence we need to rapidly scale growth in this sector and beyond.”
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“SBOM management is essential to securing mission-critical systems and the integrity of software supply chains. With this agreement, SBOM Studio has further entrenched its value and capabilities in the ICS and BMS sector, where transparency in the software supply chain is essential to both SBOM producers and consumers,” said Dmitry Raidman, CTO, Cybeats. “Cybeats’ platform offers the necessary scalability and accuracy for our customers to identify vulnerabilities and potential security risks in the software dependencies used by their systems, and helps them comply with upcoming regulations and stay ahead of industry standards.”
The agreement was executed on January 17, 2023, entails over six figures of annual recurring revenue, and comes just days after Cybeats penetrated the healthcare sector with the announcement of a contract with a top 3 global medical device and diagnostics company.3 The new client offers one of the world’s largest portfolio’s of building technology and services such as fire prevention, HVAC, building automation, and industrial controls.
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“We are thrilled to sign this large client and add yet another prominent industry leader of this size and caliber to our client roster which helps galvanize our position in the building and infrastructure sector,” said Bob Lyle, CRO, Cybeats. “SBOM Studio has received invaluable customer recognition from sector leaders across a diverse range of industry verticals from industrial technology and healthcare, to automotive and advertising technology, and we expect to see continued commercial traction as awareness of Cybeats builds.”