TORONTO, April 4, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT, OTCQB: CYBCF) has successfully delivered its SBOM Studio^[1]  to two of its largest clients: a leading global provider of energy management solutions and a Fortune 500 building technology and industrial automation company. The contracts with these two clients are for three-year engagements. ^[2] 

Cybeats successfully delivered the SBOM Studio product for two clients that agreed to 3-year engagements. Both engagements will see Cybeats’ leading solution deployed to reduce the cost of securing its products by enabling SBOM sharing, providing accurate SBOM data and tools to manage SBOM at scale. One client is part of the top-7 ICS (Industrial Control System) and automation companies, combining world-leading energy technologies, real-time automation, software and services into integrated solutions for homes, buildings and infrastructure.^[3]

"SBOM Studio's powerful capabilities and scalability emphasize our dedication to addressing the use cases of our key enterprise customers in the ICS and building automation sectors," said Dmitry Raidman, CTO of Cybeats. "Our successful deployment for these notable clients underscores our commitment to delivering solutions that provide real value, enabling them to confidently manage their SBOMs at scale."

SBOMs (Software Bill of Materials) have emerged as a catalyst for transformation in product security across nearly all sectors, aiming to improve visibility and security of the software supply chain. However, organizations face challenges with widespread implementation due to the scale of change and manual work required. SBOM Studio is designed to automate SBOM management and simplify SBOM implementation, ultimately improving ROI by reducing the overhead required to embed SBOM across an organization.

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About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com

SUBSCRIBE: For more information, or to subscribe to the Company’s mail list, visit: https://www.cybeats.com/investors

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Contact:

James Van Staveren

Corporate Development

Phone: 1-888-713-SBOM (7266)

Email: ir@cybeats.com

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 products 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. Company filings are available at sedar.com.

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^[1] https://www.cybeats.com/sbom-studio

^[1] https://www.cybeats.com/news/cybeats-signs-three-year-commercial-agreement-with-fortune-500-building-technology-and-industrial-automation-company

^[3] https://www.verifiedmarketresearch.com/blog/7-leading-industrial-control-and-factory-automation-companies/