Friday, August 1, 2025

Latest

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

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Relay Medical’s Joint Venture Selected To Deploy COVID-19 Testing Platform At Toronto Pearson Airport

Relay Medical (CSE: RELA) this afternoon announced that it has seen its joint venture, Fionet...

Wednesday, February 24, 2021, 02:18:33 PM

Relay Medical Joint Venture Secures Over $500,000 In Initial Contracts

Relay Medical (CSE: RELA) has seen its joint venture, Fionet Rapid Response Group, acquire contracts...

Friday, November 13, 2020, 07:09:11 AM

Relay Medical’s Joint Venture Signs High-Volume Manufacturing Partner For COVID-19 Test Device

Relay Medical Corp (CSE: RELA) early this morning released an update related to its joint...

Friday, October 2, 2020, 08:15:19 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

Health Canada’s Move To Approve Home Based COVID-19 Testing Bodes Well For Relay Medical

Last week, Health Canada formally changed its stance on at-home COVID-19 test kits as it...

Monday, September 7, 2020, 11:24:00 AM