Thursday, August 28, 2025

Relay Medical Acquires Cybersecurity Firm Cybeats Technology

Relay Medical (CSE: RELA) this evening announced that it is looking to strengthen its cybersecurity abilities. The company is acquiring that of Cybeats Technologies, whom is focused on internet of things and connected device security.

Cybeats has built an intengrated security platform that is designed to secure and protect connected IoT devices. The firms approach to security reportedly eliminates device downtime due to cyber attacks while enabling manufacturers to develop and maintain secure and protected devices.

The transaction will see Relay acquire the company, its intellectual property and trade secrets. Upon closing, the firm will become a wholly owned subsidiary of Relay, who’s platform will be used to provide clients visibility into security gaps and software supply chain through continuous monitoring.

Under the terms of the share exchange agreement, the firm is to pay a total of $7.2 million for the cybersecurity firm. Consideration is to consist of $500,000 in cash as well as 9.3 million common shares of the company at a price of $0.61 per share. The remaining $1.0 million will be paid out 120 days after closing in the form of cash or shares at Relay’s election.

A milestone clause is also in effect for up to $6.7 million in additional consideration, to be issued on the 18, 30 and 42 month anniversaries of the closing of the transaction, with payouts to be based on revenue targets. All shares issued are subject to escrow conditions over a minimum 24 month period.

“While consumers, patients, manufacturers, companies and the world at large rapidly adopt and recognize the benefits of connected solutions, the potential consequences of data breaches and cybersecurity failures become increasingly more catastrophic. The value in bridging this gap is well illustrated by the flurry of activity in the global cybersecurity industry and we have experienced the power of the Cybeats solution firsthand.”

W. Clark Kent, President of Relay Medical Corp

The tech is now in the process of being integrated into the firms sales and business development activities, as well as into the firms ongoing and prospective deployments o the Fionet Covid-19 pandemic testing platform.

Relay Medical last traded at $0.74 on the CSE.


FULL DISCLOSURE: Relay Medical Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Relay Medical Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

Related News

Relay Medical Refreshes Management Teams, Company Boards

Relay Medical (CSE: RELA) this morning placed on emphasis on strengthening its management team as...

Monday, February 8, 2021, 09:07:02 AM

Relay Medical Sees Fionet Joint Venture Commence Operations

After the bell last night, Relay Medical (CSE: RELA) provided a market update on the...

Thursday, August 27, 2020, 07:45:00 AM

Relay Medical Receives $3.0 Million From Option And Warrant Exercises

Relay Medical (CSE: RELA) last night announced that the company has seen total cash inflows...

Friday, February 12, 2021, 07:58:08 AM

Relay Medical Enters Binding LOI For Global Rights To COVID-19 Tests

Relay Medical (CSE: RELA) has entered into an arrangement to exclusively sell and distribute two...

Tuesday, November 10, 2020, 07:12:32 AM

Relay Medical Sees Joint Venture Awarded USAID Contract In Africa

Relay Medical Corp (CSE: RELA) continues to see success with its joint venture with that...

Tuesday, December 8, 2020, 07:09:11 AM