Norwegian software venture targets rising cyber attack risks – Reuters

A computer keyboard lit by a shown cyber code is seen in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/IllustrationRegister now for FREE endless access to Reuters.comRegisterDAVOS, Switzerland, May 25 (Reuters) – Norwegian firms Telenor, Aker ASA and Cognite say a new software security business they plan to release this year will assist companies secure their commercial possessions from an increased cyber attack risk considering that Russias invasion of Ukraine.”More and more (commercial) objects (are) being linked, and then you can include Russia-Ukraine on top of that,” stated Telenor (TEL.OL) CEO Sigve Brekke, including that a trend that accelerated throughout COVID, is “now going quicker and faster”. Industrial facilities, control systems, oil pipelines, supply chains, power grids and health care are essential targets, Brekke and the CEOs of Aker ASA (AKER.OL) and Cognite told the Reuters Global Markets Forum in Davos this week.Register now totally free endless access to Reuters.comRegister”Cyber security is progressively a concern for any business out there,” stated Asa Tamsons, senior vice president and head of service location technologies and new companies at Ericsson (ERICb.ST),, as more operations use the cloud, digital tools are used and connection within businesses increases.John Lervik, co-founder and chief method and advancement officer of Cognite, stated the brand-new company Omny would assist public and private companies monitor industrial possessions so they perform optimally, while protecting them from cyber attacks.Omny will release first in Norway in the fall of 2022 and then be broadened into the Nordics next year, Lervik said.Aker ASA CEO Oyvind Eriksen stated the aim was to eventually take Omny international, and its founders will search for international partners to scale it up.Omny forecasts that the operational innovation security market will grow from 94 billion Norwegian crowns ($9.8 billion) to almost 470 billion Norwegian crowns in 2030, with the software part of the marketplace estimated at 20%-30%. Carl Carande, international head of advisory at KPMG, informed Reuters on Tuesday that the way to alleviate cyber threats is for huge tech, federal governments and industries to interact,”This continued push for partnership, development and coordination, thats the key,” Carande stated in Davos. “Bad stars can simply be right as soon as and trigger havoc. Everybody else needs to be right all the time”.(The interviews were conducted in the Reuters Global Markets Forum. Join GMF on Refinitiv Messenger: )Register now free of charge unlimited access to Reuters.comRegisterReporting by Divya Chowdhury in Davos; Additional reporting by Lisa Mattackal and Sanjana Shivdas in Bengaluru; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

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