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

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Omny will debut in Norway in the autumn of 2022, before expanding throughout the Nordics the following year.

Since Russia’s invasion of Ukraine, Telenor, Aker ASA, and Cognite have announced plans to start a new software security company this year to help enterprises safeguard their industrial assets from rising cyber attack risk.

“You can put Russia-Ukraine on top of that,” Telenor CEO Sigve Brekke said, adding that a trend that intensified during COVID is “now going quicker and faster.”

Brekke and the CEOs of Aker ASA and Cognite told the Reuters Global Markets Forum in Davos this week that industrial facilities, control systems, oil pipelines, supply networks, power grids, and healthcare are significant priorities.

As more operations use the cloud, digital tools are used, and business connectivity increases, “cyber security is becoming increasingly a worry for any organisation out there,” said Asa Tamsons, senior vice president and head of business area technologies and new businesses at Ericsson.

According to John Lervik, Cognite’s co-founder and chief strategy and development officer, the new business Omny will help public and private companies monitor industrial assets and secure them against cyber threats.

Omny will debut in Norway in the autumn of 2022, followed by the Nordics the following year, according to Lervik.

Omny will eventually be taken worldwide, according to Aker ASA CEO Oyvind Eriksen, and its creators will seek overseas partners to help build it up.

The operational technology security industry, according to Omny, will increase from 94 billion Norwegian crowns (approximately Rs. 75,600 crore) in 2015 to nearly 470 billion Norwegian crowns (about Rs. 3,77,900 crore) in 2030, with software accounting for 20% to 30% of the market.

Carl Carande, global head of advice at KPMG, told Reuters on Tuesday that collaboration between big tech, governments, and businesses is the best way to combat cyber risks.

“The goal is to keep pushing for coordination, collaboration, and innovation,” Carande said in Davos.
“Bad performers can only be right once before wreaking disaster.
Everyone else must always be correct “.

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