Cybeats Signs Pilot Agreement for SBOM Studio with Large Global Telecom Technology Provider
Jul 12, 2023
TORONTO - Cybeats Technologies Corp. ("Cybeats'' or the "Company") (CSE: CYBT) (OTCQB: CYBCF) is pleased to report the signing of a pilot evaluation agreement with a global leader in telecom and 5G technology, for the SBOM Studio platform.1
"Cybeats has been experiencing tremendous traction in the telecom sector following recent regulations and pressure by governments causing it to become a key SBOM adopter. We are pleased to be engaging in a pilot evaluation for SBOM Studio with an international leader in telecom, and look forward to continuing to expand into the global telecom market vertical with a solution that has already been commercially validated with industry leaders from several other sectors," said Bob Lyle, CRO, Cybeats.
Further to Cybeats' recent press release2 dated June 16, the Company announced its strategic direction to also include the global telecom sector as it is an accelerating Software Bill of Materials (SBOM) adopter. The Company has been continuing to strengthen its commercial pipeline which now includes over five prospective telecom clients in various stages, and several of which are among the largest Mobile Network Operators (MNOs) and Mobile Network Equipment providers by revenue globally. This pilot agreement is with a leading telecom network equipment provider that has a market capitalization of over 15 billion EUR and sells infrastructure, software, services, and technology for the telecommunications industry, including 5G equipment, and operates in more than 180 countries. Cybeats announced a pilot conversion rate of 75% in January 2023.3
SBOM management enables telecom giants to achieve software transparency and ensure compliance with government regulations. It provides valuable visibility into software components and dependencies, enabling telecom companies to gain a more comprehensive understanding of their software. Telecom and mobile device providers must adhere to specific regulations such as FCC regulations, NDAA provisions, the EU Cybersecurity Act, UK Telecommunications (Security) Act, and NIST guidelines. Complying with these regulations is crucial for ensuring software transparency and security in the rapidly evolving telecom industry. In addition, a push to open infrastructure, like Open Radio Access Network Infrastructure (O-RAN), further signals a trend towards greater interoperability and security, i.e. with O-RAN software components requiring SBOMs.
SBOMs have emerged as a catalyst for transformation in cybersecurity across nearly all sectors to improve visibility and security of the software supply chain, yet organizations face challenges with widespread implementation of SBOM due to the scale of change and associated costs. SBOM Studio is specifically designed to automate SBOM management, accelerate vulnerability management, simplify SBOM implementation, and ultimately improve ROI by reducing the overhead required to embed SBOM management across an organization.
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