DNV makes cyber security acquisition

Applied Risk and DNV will operate together under the DNV brand, under a combined leadership team from both companies. In addition to defending critical infrastructure in the maritime sector, the cyber security practice will also offer services to other industrial sectors against emerging cyber threats.

Applied Risk is an established cyber security solutions specialist serving clients in the maritime and other industrial sectors. Applied Risk works with a broad client portfolio, including Fortune 500 companies across Europe, the Middle East and Asia. Its team of engineering and cyber security professionals have contributed to the development of industry standards and led the development of security strategies for national governments.  

The independent assurance and risk management specialist notes that threats to industrial cyber security are becoming more common, complex, and creative. The maritime industry witnessed a 400% increase in attempted attacks between February and June 2020 alone, according to Naval Dome. 

The regulatory environment is also evolving. The International Maritime Organization introduced new guidelines stating that a ship’s safety management system should account for cyber risk management in compliance with the ISM Code in in January 2021.

“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, DNV. 

“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,” Hovem added.