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TORONTO, December 7, 2022 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT), a cybersecurity company offering leading SBOM Management and software supply chain intelligence technology, announced today that  Gartner has named it as a Representative Vendor providing leading technology and innovative tools for SBOM management in a recent report – “Emerging Tech: A Software Bill of Materials Is Critical to Software Supply Chain Management."

”We believe Cybeats being recognized by Gartner further validates the leadership our solution is providing in the fast-emerging space of software supply chain security and SBOM management,” says Cybeats CEO Yoav Raiter. “As the world's leading IT research and advisory company, being recognized three times by Gartner in 2022 is proving incredibly valuable for Cybeats in building trust with enterprise executives around the world.”

According to the report, Emerging Tech: A Software Bill of Materials Is Critical to Software Supply Chain Management, “Software supply chain attacks are becoming increasingly sophisticated, with malicious actors exploiting weaknesses at every stage in the software procurement, development and delivery life cycle.” Recent high-profile cyberattacks like Solar winds are just the tip of the iceberg.  Gartner points “ In 2021, there was a 650% year-over-year increase in software-supply-chain attacks aimed at exploiting weaknesses in the software supply chain’s upstream ecosystems.”

Gartner estimates that “by 2025, 45% of organizations worldwide will have experienced attacks on their software supply chains, a three-fold increase from 2021”.  One of the recommendations in the report is to “Mitigate software supply chain security risks by requesting upstream software providers to provide standards-based (e.g., Software Package Data Exchange [SPDX], Software Identification [SWID] and Cyclone DX) SBOMs during the procurement process.”.

“Increasing software vulnerabilities, more malicious cyberattacks, and inevitable SBOM compliance means that organizations need to proactively and strategically get ahead of the coming disruption,” says Cybeats CTO Dmitry Raidman. “So putting customer needs first is what drives Cybeats. With our rigorous supply chain intelligence platform, SBOM Studio, businesses always know their software inventory is secure and they can adapt to and comply with emerging conditions, even as the software environment evolves.”

The report notes, “SBOMs are designed to track and share the details of software components and their supply chain relationships across organizations. This enables greater transparency, auditability and traceability throughout the software supply chain, thus expediting resolution of security and compliance issues… SBOMs are an essential tool in a security and compliance toolbox. They help continuously verify software integrity and alert stakeholders to security vulnerabilities and policy violations.”

SBOMs are fast becoming a table-stakes business standard, with Gartner predicting that “by 2026, at least 60% of organizations procuring mission critical software solutions will mandate SBOM disclosures in their license and support agreements, up from less than 5% in 2022.” According to us, those failing to develop an SBOM strategy will not just be at greater risk of cyberattacks, but will see their clients quickly migrate to competitors that prioritize their security.  

Gartner, Emerging Tech: A Software Bill of Materials Is Critical to Software Supply Chain Management, Mark Driver, September 6, 2022.

GARTNER is the registered trademark and service mark of Gartner Inc., and/or its affiliates and has been used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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About Cybeats

Cybeats is a leading SBOM Management and software supply chain intelligence technology provider, helping organizations mitigate risk, meet compliance and secure software from procurement, development through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, as a result enables them to increase operational efficiencies and revenue. Cybeats. Software Made Certain. Website: https://cybeats.com  

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 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 unduereliance on forward-looking statements. Under the parent company, Scryb Inc., company filings are available at sedar.com.

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