Agreement

RNS Number : 9489E

CYBA PLC

16 March 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

17 March 2022

CYBA plc

Narf signs agreement with SRI International

CYBA is pleased to announce that Narf Industries, has agreed terms with SRI International ("SRI") regarding its suite of cyber defense technologies for industrial control systems

CYBA plc ("CYBA" or the "Company"), together with its wholly owned subsidiary Narf Industries LLC ("Narf", together, the "Group"), has signed an agreement regarding the licensing of SRI International's ("SRI") intellectual property and patents relating to the Threat Intelligence for Grid Recovery ("TIGR") product which Narf is set to launch in 2022. As part of the agreement SRI will become a significant shareholder in Cyba.

TIGR

As the Prime contractor, SRI led a powerhouse research team that combined experienced researchers, industry players, cutting edge academics, and cybersecurity experts for the TIGR project which spun out of the $120 million DARPA funded RADICS (Rapid Attack Detection, Isolation, and Characterization Systems) program. TIGR is designed to diagnose cyberattacks in real time (like those on the Ukrainian power grid which took 30 substations offline) by focusing scarce human attention on the most innovative aspects and salient details of cyberattacks on Industrial Control Systems ("ICS"). The TIGR product accelerates the characterization needed for confident recovery to avoid protracted remediations like the recent Colonial pipeline incident.

SRI

SRI International creates world-changing solutions making people safer, healthier and more productive. SRI, a 75-year pioneering research institute headquartered in Menlo Park, California, works primarily in advanced technology and systems, biosciences, computing and education. SRI brings its innovations to the marketplace through technology licensing, spin-off ventures and new product solutions. SRI has spun out over 50 companies including Nuance Communications, which was recently acquired by Microsoft for $19.7bn. For more information, visit SRI at www.sri.com.

Narf

Narf recruited Dr. Michael E. Locasto, former SRI Principal Investigator under the RADICS program of which TIGR was born, to help spearhead the commercial roll-out. Dr. Locasto brings over 15 years of experience leading cutting edge basic and applied cybersecurity research. His background in both industry and academia enable him to craft and manage high-achieving teams from a variety of backgrounds and experiences.

TIGR has been developed to apply active forensics in ICS, with its first application to be deployed in the US electrical grid. The grid is made up of 55,000 substations and 7,300 power plants, which anticipate upgrades as part of President Biden's $1.2 trillion infrastructure bill.

Further information on Narf can be found in previous announcements made by the Company and within the Company's Prospectus at www.cybaplc.com.

Dr Locasto said: "Critical infrastructure provides the basis for modern life. Sustainable advances in technology, communication, agriculture, and environment all depend on a trustworthy and reliable power grid infrastructure, from production to distribution. Having every confidence in the safe and uncompromised operation of this increasingly automated infrastructure is of vital concern to every person in society."

For articles on TIGR see:

https://medium.com/dish/active-forensics-to-defend-against-cyber-grid-blackouts-98ad9011b616

https://www.darpa.mil/news-events/2021-02-23

Nuance Communications:

https://www.sri.com/press-release/sri-international-spinoff-nuance-communications-acquired-by-microsoft-for-19-7-billion/

ENDS

About CYBA plc

CYBA plc ("CYBA") is a Group operating in the Cyber Security sector. Its strategy is focussed on building a group capable of offering Cyber and Cybersecurity solutions in the US and beyond.

The Group intends to leverage the deep industry knowledge of its board, its partners and the enlarged team both, to grow current operations, as well as, to undertake due diligence on the commercial attributes of further target entities' business.

For further information on the Group please visit www.cybaplc.com and narfindustries.com , with the Company's Prospectus to be found at www.cybaplc.com/investor-relations/corporate-documents or contact:

Robert Mitchell	CYBA	Tel: [phone]
Peter Krens	Tennyson Securities	Tel: [phone]

Important notice

The content of this announcement has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (FSMA). This announcement has been issued by and is the sole responsibility of the Company. The information in this announcement is subject to change. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States. This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Australia, Canada, the Republic of South Africa, Japan or any jurisdiction where to do so might constitute a violation of local securities laws or regulations (a Prohibited Jurisdiction). This announcement and the information contained herein are not for release, publication or distribution, directly or indirectly, to persons in a Prohibited Jurisdiction unless permitted pursuant to an exemption under the relevant local law or regulation in any such jurisdiction.

Forward-looking statements

Certain statements in this announcement constitute ''forward-looking statements''. Forward-looking statements include statements concerning the plans, objectives, goals, strategies and future operations and performance of the Company and the assumptions underlying these forward-looking statements. The Company uses the words ''anticipates'', ''estimates'', ''expects'', ''believes'', ''intends'', ''plans'', ''may'', ''will'', ''should'', and any similar expressions to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the Company's actual results, performances or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company is not obliged, and does not intend, to update or to revise any forward-looking statements, whether as a result of new information, future events or otherwise except to the extent required by any applicable law or regulation. All subsequent written or oral forward-looking statements attributable to the Company, or persons acting on behalf of the Company, are expressly qualified in their entirety by the cautionary statements contained throughout this announcement. As a result of these risks, uncertainties and assumptions, a prospective investor should not place undue reliance on these forward-looking statements.

 

END

 

 

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