DNV Acquires Cybersecurity Company CyberOwl, Adding to Growing Portfolio

 

Class society DNV has acquired its third cybersecurity services company in four years, expanding its capabilities in a growing business area. The newly-purchased technology firm CyberOwl specializes in cyber risk monitoring and threat management for ships, and its capabilities will complement DNV's existing services. 

The industry's advances in digitalization and always-on connectivity have increased merchant ships' exposure to security incidents. According to DNV, a typical owner with a fleet of 30 ships can experience an average of 80 cyber incidents every year. In addition, the industry has to comply with an increasing number of cyber regulations. 

"The benefits of digitalization and automation cannot be realized without a robust approach to cyber security. That’s why DNV has placed cyber security at the heart of its growth strategy," said Remi Eriksen, DNV's group president and CEO. 

CyberOwl's portfolio of security services includes a digital monitoring tool, Medulla, which covers crew behavior, asset inventory, monitoring and analytics. The firm already serves hundreds of vessels around the world, and customers include names like Eastern Pacific, Star Bulk and Swire, among others. 

According to DNV, the combination with CyberOwl creates the one of the world's biggest maritime cybersecurity service providers, and it is the latest in a string of cyber acquisitions for the Norwegian class society. In 2021, DNV purchased the Dutch cyber firm Applied Risk, acquiring more expertise in industrial control system protection. Last year, DNV purchased the publicly-listed cybersecurity company Nixu for $110 million, then delisted it from Nasdaq Helsinki and merged it into a new cyber division. The combination created a 500-strong team of cyber experts with experience in maritime, energy, telecom and other industries.