DNV is acquiring Amsterdam-based cyber security specialist Applied Risk with the aim of building the world’s largest industrial cyber security practice, defending critical infrastructure in maritime and other sectors.
Threats to industrial cyber security are becoming more common, complex, and creative, while recovery from an attack can cost organisations hundreds of millions of dollars, DNV said.
The maritime industry witnessed a 400% increase in attempted attacks between February and June 2020 alone, according to Israeli maritime cyber security experts Naval Dome. Many of the world’s largest shipping companies, including Maersk, MSC, Cosco and CMA CGM, as well as other maritime organisations, have been subject to serious cyber security attacks.
“Maritime assets are now at higher risk of new forms of cyber-attacks, as their control systems become increasingly connected. Life, property and the environment are at stake. DNV is investing significantly in helping our customers build a powerful force of defence. By joining forces with Applied Risk, we aim to build an industrial cyber security powerhouse to support the sector in managing these emerging risks,” said Remi Eriksen, group president and CEO of DNV.
Applied Risk and DNV will operate together under the DNV brand. A combined leadership team from both companies will be tasked with scaling a merged cyber security business with ambitions for significant growth by the end of 2025.
“Cyber security will play an important role in DNV’s growth story in the coming years,” said Liv A. Hovem, CEO of DNV’s Accelerator, a new business area dedicated to rapidly growing new DNV businesses, services and solutions.
“Bringing together Applied Risk and DNV’s impressive teams of industrial cyber security experts is the first step in our plan to build a cyber security powerhouse through acquisitions and partnerships with top-tier cyber security firms around the world. We will also welcome more talent into the business as we grow, offering the opportunity to work on some of the world’s most advanced and complex cyber security projects alongside DNV’s global team of nearly 12,000 industrial domain experts,” Hovem added.
The International Maritime Organization, which experienced an attack itself last year, has placed renewed focus on this issue, introducing new guidelines in January stating that a ship’s safety management system should account for cyber risk management in compliance with the ISM Code.