Market trends show advanced usage of safety-critical systems with novel services based on smart data analytics. Customers require continuous updates to applications and services and seek lower cost (Bill-of-Material, BoM) and easy to install solutions (maintenance) for safety-critical cyber-physical systems (CPS). To respond to these trends, TRANSACT will leverage edge and cloud technologies and establish business partner eco-systems to enhance safety-critical systems in regulated environments. TRANSACT will transform local safety critical CPS into distributed safety-critical CPS solutions with a heterogeneous architecture composed of components along a device-edge-cloud continuum. The distributed solutions incorporating data and cloud services will simplify the CPS devices, reducing their software footprint, and consequently their BoM and Lower of Cost or Market. Business-wise, system manufacturers thus transform to solution providers. To that end TRANSACT will research distributed reference architectures for safety-critical CPS that rely on edge and cloud computing. These architectures shall enable seamless mixing of on-device, edge and cloud services while assuring flexible yet safe and secure deployment of new applications, and independent releasing of edge and cloud-based components vs. on-device. Moreover, safety, performance, cybersecurity and privacy of data will be kept on the same level as on-device only safety-critical CPS architectures. By also integrating AI services into distributed CPS, TRANSACT will enable fast development of innovative value-based services and business models leading to faster market introduction in the various multi-billion euro markets addressed by TRANSACT. Encouraged by ARTEMIS' 2019 publication on embedded intelligence, TRANSACT will be a crucial enabler for Europe to shift towards a solution-oriented market "so as to still matter in the Embedded & Cyber-Physical Systems field of tomorrow’s world."