Open source software makes up over 80% of the software in use in modern applications2.
After entering new market verticals, Cybeats manages to partner with some of the largest and most prolific organizations within the sector. Cybeats accomplished this in both the Medical Device Manufacturing ("MDM") and Industrial Control Systems ("ICS") sectors, where Cybeats has already secured three of the global top 10 MDM's and four of the global top 10 in ICS. The Company therefore expects that its entry into the telecom industry could mark significant commercial traction in this new sector, as demonstrated by its proven track record.
"Engaging a global leader in the telecom sector is a significant step in our commercial journey. When building
European companies that fail to comply with new cybersecurity requirements, including certain Software Bill of Materials ("SBOM") reporting, could face administrative fines of up to €15 million or 2.5% of their gross sales.3 This enhanced oversight by the EU fortifies the go-to-market thesis for
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
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1 https://www.cybeats.com/sbom-studio | |
2 State of Dependency Management 2023 | | |
3 https://shorturl.at/jTUX5 | |
4 https://shorturl.at/hqBEI |
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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 sedarplus.ca.
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