Norwegian Companies Plan Omny, a New Software Security Venture, to Fight Cyberattacks Risk

Norwegian companies Telenor, Aker ASA and Cognite say a new software security company they plan to launch this year will help companies protect their industrial assets from the growing risk of cyberattacks since the Russian invasion of Ukraine.

“More and more (industrial) items are being connected, and then you can add Russia and Ukraine on top of that,” Telenor CEO Sigve Brekke said, adding that the trend that accelerated during COVID “is ​​now going faster and faster.”

Industrial facilities, control systems, oil pipelines, supply chains, power grids and healthcare are key targets, Brick and CEOs of Aker ASA and Cognite told the Reuters Global Markets Forum in Davos this week.

“Cyber ​​security is becoming a growing concern for any business out there,” said Asa Tamsons, Senior Vice President and Head of Business and New Business Domain Technologies at Ericsson, as more operations use the cloud, digital tools are used and connectivity within businesses increases.

John Lervik, co-founder and head of strategy and development at Cognite, said the new company Omny will help public and private companies monitor industrial assets so they can operate optimally, while protecting them from cyberattacks.

Lervik said Omni will first launch in Norway in the fall of 2022 and then expand to the Nordic countries next year.

Aker ASA CEO Oyvind Eriksen said the goal was to eventually take Omny global, and its founders would look for international partners to expand its reach.

Omni expects the OT security market to grow from NOK 94 billion (about Rs 75,600 crore) to nearly NOK 470 billion (about Rs 377,900 crore) in 2030, with the program’s portion of the market estimated at 20 percent to 30 percent. cent.

The way to mitigate cyber threats is for big technology, governments and industries to work together, Karl Karandi, KPMG’s global head of advisory, told Reuters on Tuesday.

“This constant pressure to coordinate, collaborate and innovate, that’s key,” Karandi said in Davos. “Bad actors can be right once and cause chaos. Everyone else has to be right all the time.”

© Thomson Reuters 2022

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