TORONTO, February 17, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT) is pleased to announce its upcoming attendance at MWC^[1]  (Mobile World Congress) Barcelona, the world’s most influential exhibition for the connectivity and security ecosystem from February 27 to March 2, organised by GSMA^[2].

Cybeats’ participation in MWC builds on the Company’s efforts to generate brand awareness and exposure opportunities with some of the world’s largest mobile operators, device manufacturers and technology providers potentially looking for solutions like SBOM Studio^[3]. With recent Software Bill of Materials (SBOM) regulations like the EU Cyber Resilience Act, the mobile industry has a pressing need to adopt SBOMs as they become a part of technical product documentation, development processes, and critical infrastructure risk management practices. Several leading global mobile network operators, device manufacturers, semiconductor companies, and software providers have agreed to meet with Cybeats at pre-arranged meetings to discuss SBOM Studio’s role in potentially securing their software supply chain.

“Showcasing Cybeats at GSMA’s MWC in Barcelona will expand our global reach and allow us to demonstrate SBOM Studio to leaders in the mobile industry,” said Bob Lyle, CRO, Cybeats. “Events like this have proven very effective for us, as they offer a great opportunity for us to meet prospective customers face to face, and demonstrate the market-leading capabilities of SBOM Studio and its value in helping organizations meet their SBOM requirements."

Bob Lyle will participate in the MWC Sec Con event, “Securing Telecoms in Times of Conflict”, engaging in discussion with leading industry thought leaders and presenters from Palo Alto Networks, Ericsson, Adaptive Mobile, and Ukraine’s Ministry of Digital Transformation, among others. Supply chain resilience and supply chain security are important issues that will be among those at the forefront of the event’s discussion. ^[4]Gonda Lamberink, Cybeats’ recently appointed VP of Sales and IoT expert, will also attend the events to discuss and answer any questions regarding SBOM implementation. ^[5]Cybeats aims to use these events to support its pipeline of companies from the global mobile industry, to fuel the growth in telecommunications, a subset of the critical infrastructure vertical.

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GSMA Fraud and Security Group meeting

Following MWC Barcelona, the next GSMA Fraud and Security Group meeting^[6] will take place on 7-9 March 2023 in New York, hosted by Google. The theme of this meeting is The Fraud and Security Challenges of Openness. Bob Lyle, CRO of Cybeats and Chair of the Device Security Group (DSG) at GSMA will present on the latest activities and initiates underway within the DSG, and will work to collaborate with the wider FASG membership on some new global security standards initiatives that will benefit both consumers and enterprises related to their IoT and mobile devices.

SBOM for Mobile Ecosystem Security

SBOMs play a critical role in enhancing transparency, security, and interoperability within the mobile ecosystem. SBOMs offer a comprehensive inventory of all software components integrated into a system or product, including their origin, version, and licensing information. This transparency allows for a more secure and reliable supply chain, as it helps to identify and address vulnerabilities and potential security and compliance risks.

Driven by mobile operator security needs, SBOMs are gaining traction among network equipment providers, O-RAN vendors, IoT device manufacturers, chipset makers, and other technology companies. The mobile industry recognizes the importance of SBOMs in ensuring the security and integrity of the software supply chain. In addition to mobile operator requirements, regulations are also driving the adoption of SBOMs. The U.S. Cyber Executive Order 14028 mandates federal agencies to implement SBOM requirements for critical software. And the EU Cyber Resilience Act focuses device manufacturers on preparing SBOMs as part of technical product documentation.

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European Cyber Resilience Act (CRA)⁷

Hardware and software products are increasingly subject to cyberattacks, with an estimated global annual cost of €5.5 trillion. The European Cyber Resilience Act (CRA) sets the boundary conditions for the development of secure products by ensuring that hardware and software products are placed on the market with fewer vulnerabilities and that manufacturers take security seriously. Four key objectives of the Act include:

1. Ensure that manufacturers improve the security of products with digital elements since the design and development phase and throughout the whole life cycle;

2. Ensure a coherent cybersecurity framework, facilitating compliance for hardware and software producers;

3. Enhance the transparency of security properties of products with digital elements, and

4. Enable businesses and consumers to use products with digital elements securely.

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About SBOM Studio

Cybeats' SBOM Studio enables organizations to efficiently manage, distribute, and view their software bill of materials (SBOMs) in a single interface. By doing so, they can easily identify and address cybersecurity vulnerabilities and license infringement, reduce the cost of protection, and improve compliance. SBOM Studio is specifically designed to support software producers and consumers who use open source and 3rd party software components  and who are transitioning to more transparent software development practices. The tool is compatible with various SBOM generation tools and can validate and correct imported SBOMs to improve their accuracy.

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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.mwcbarcelona.com/  

^[2] https://www.gsma.com/

^[3] https://www.cybeats.com/sbom-studio

^[4] https://www.gsma.com/security/gsma_events/security-conference/.

^[5] https://www.gsma.com/security/gsma_events/security-conference/

^[6] https://www.gsma.com/aboutus/workinggroups/gsma_events/fasg25

^[7] https://www.european-cyber-resilience-act.com/