Cybeats highlights commercial success in the infrastructure sector; Acquiring customers and extending contracts, presenting organic growth – company announcement

TORONTO
, June 6, 2024 /PRNewswire/ –Cybeata Technologies Corporation (“Cybeats” or “Company”) (CSE: CYBT) (OTCQB: CYBCF), a The Company, which offers industry-leading cybersecurity software, is pleased to highlight customer contract renewals and expansions, confirming the Company’s 100% customer retention rate, as well as increased product adoption by some of the largest infrastructure and industrial control systems (ICS) companies in the world US¹

Cybeats continues to demonstrate its leadership in the ICS sector with the addition of four of the world’s top 10 companies as customers, as well as several expansions and increased utilization of its customer base in ICS. Contract extensions in the ICS area were made by international Cybeats clients with a market capitalization of $130 billion, $60 billion AND 50 billion dollars. Cybeats recently added an app-based water technology and infrastructure client $30 billion market capitalization and electrical infrastructure company with $20 billion market capitalization. With increased regulatory pressures on US and EU critical infrastructure, this sector continues to represent one of the largest pipelines and market opportunities for Cybeats.

“Customer attraction and increased utilization Studio SBOM by the ICS sector is based on the effective delivery of operational efficiencies and end-to-end solutions, including automated workflows and analytics, that we provide to our clients. With strong organic contract growth in this space and with 100% customer retention, the infrastructure sector represents a huge opportunity for Cybeats, which continues to help validate our approach and further strengthen trust and reliance on Cybeats technology across the industry.” he said Justin LegerCEO of Cybeats.

Cybeats Cybersecurity Solution

Studio SBOM
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revolutionizes the handling of vulnerabilities in open source software and third-party software components – which make up over 80% of modern applications – on a single platform. By streamlining and automating your prioritization and remediation processes and moving away from the outdated, cumbersome practice of using 50 to 100 spreadsheets a day, Studio SBOM enables customers to better understand security threats and respond to them effectively. As a global cybersecurity company, Cybeats continues to achieve a number of important milestones while meeting the needs of a diverse, large-scale customer base and achieving its most important mission – customer satisfaction – as evidenced by 100% customer retention and 144% net revenue retention and high conversion rate in pilot projects. Cybeats has signed contracts with new clients from the infrastructure sector March 18 AND May 13and continues to drive innovation to continually improve customer satisfaction in this sector and beyond.

Industrial cybersecurity regulations and requirements

NERC CIP³ (North American Electric Reliability Corporation Critical Infrastructure Protection) is a set of requirements and standards aimed at increasing the reliability and security of the power grid by identifying and protecting critical cyber assets that, if breached or destroyed, could impact the operation of the grid. Violations can also result in penalties, requiring relevant entities to implement effective security measures and compliance strategies.

ISA 62443⁴ The standards provide a structured framework for addressing and mitigating security vulnerabilities in industrial automation and control systems (IACS). These standards are used around the world and apply to many sectors, including manufacturing, power generation, water treatment and other industries that rely heavily on automation and control systems. Their goal is to provide a common language and set of best practices to ensure industrial systems are secure and resilient to disruptions caused by cyber threats.

Executive Order No. 14028⁵ strengthens US cybersecurity through several key measures, including mandating the development of standards such as software bill of materials (SBOM) to provide more transparent software supply chain security, aimed at enhancing national security and addressing the evolving cyber threat landscape.

Read more about the power of SBOM and its role in building critical infrastructure resilience on the Cybeats website Blog, written By Dr. Georgia Shearenowned cyber expert, member PCAST ​​Working Groupand Cybeats advisor⁶. Cybeats will attend the ISA OT Cybersecurity Summit 2024⁷ IN London, UK, an event dedicated to protecting operational technology in sectors such as energy, manufacturing and building automation. It will feature the latest updates to the ISA/IEC 62443 standards and provide a platform for sharing insights on security practices to improve infrastructure and data security.

About Cybeats

Cybeats is a cybersecurity company offering SBOM management and software supply chain intelligence technology that helps organizations manage risk, meet compliance requirements, and secure software from acquisition to development and operations. Our platform provides customers with end-to-end visibility and transparency across their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Safe software. Website: https://cybeats.com

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Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that certain events or conditions ” maybe” or “will”. Forward-looking statements are based on opinions and estimates as of the date they are made and are subject to various risks, uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. statements, including, but not limited to, delays or uncertainties in regulatory approvals, including those issued by the CSE. Forward-looking information is subject to uncertainties, including factors beyond the Company’s control. There can be no assurance that plans to commercialize the products described in this press release will be effective on the terms or within the time frames described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company documents are available at sedarplus.ca.

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SOURCE Cybeats Technologies Corp.