DNV to Acquire Applied Risk

DNV, an independent assurance and risk management provider, will acquire industrial cyber security specialist Applied Risk. The two companies will join forces with the aim of building the world’s largest industrial cyber security practice, defending critical infrastructure against emergent cyber threats.

Applied Risk will join with DNV’s cyber security specialists, who work with governments, corporations and industrial operators to keep projects and operations secure. DNV says it provides cyber security expertise to some of the world’s most complex infrastructure projects, helping customers identify their cyber risks, build a powerful force of defence against threats, recover from attacks and win stakeholder trust and support.

Remi Eriksen, president and CEO of DNV, says, “Industrial assets such as windfarms, oil and gas infrastructure, ships, manufacturing facilities and medical equipment are now at higher risk of new forms of cyber-attack as their control systems become increasingly connected. DNV is making significant investment 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 our customers in managing these emerging risks.”

Jalal Bouhdada, CEO of Applied Risk, says, “DNV and Applied Risk share a common vision of safeguarding industrial assets from the growing volume and complexity of cyber-attacks. This partnership brings together two highly respected organizations in industrial assurance and cyber security solutions. We will combine the strengths of Applied Risk and DNV with significant investments in security research and innovation to build and grow a cutting-edge industrial cyber security business that helps our customers outpace new threats posed by cyber criminals.”

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.