Coventry University has made waves in the maritime cybersecurity sector with the recent sale of its spin-out company, CyberOwl, to DNV, a global leader in assurance and risk management. This acquisition is not just a financial transaction; it’s a strategic move that signals a significant evolution in how maritime operations will leverage cybersecurity to navigate the digital seas.
CyberOwl emerged from Coventry University’s Research Center for Future Transport and Cities, a testament to the institution’s commitment to marrying academic rigor with real-world applications. Spearheaded by Professor Siraj Shaikh, whose expertise in cybersecurity laid the groundwork for the company’s innovative approach, CyberOwl has been on a trajectory of growth that’s both impressive and indicative of the pressing need for robust cybersecurity solutions in the maritime industry. With its flagship product, Medulla, CyberOwl has carved out a niche, focusing on safeguarding maritime infrastructure—a sector that has become increasingly vulnerable to cyber threats as it embraces digital transformation.
Professor Shaikh’s pride in the company’s journey is palpable. “CyberOwl technology builds over several years of research in analytics and threat detection. I am incredibly proud of the progress the team has made, and now over to a new start with DNV.” This sentiment resonates deeply within the industry, as the maritime sector grapples with the dual challenges of advancing technology and escalating cyber risks.
DNV’s acquisition of CyberOwl aligns seamlessly with its growth strategy, which places cybersecurity at the forefront of its mission to digitalize and automate maritime operations. Remi Eriksen, Group President and CEO of DNV, articulated this vision succinctly: “Digital technologies must continue to scale for a safer, more efficient, and greener maritime industry. But the benefits of digitalization and automation cannot be realized without a robust approach to cybersecurity.” This statement is a clarion call to the industry, underscoring that without addressing cybersecurity, the potential of digitalization remains untapped.
The merger is set to enhance CyberOwl’s capabilities, allowing it to scale operations and innovate further. With offices now in Oslo, London, Singapore, Hamburg, and Piraeus, CyberOwl is poised to expand its global footprint, bringing its cybersecurity expertise to a broader audience. Daniel Ng, who will continue as CEO, along with Ken Woghiren, who played a pivotal role in product development, will drive this expansion. Their leadership, combined with the backing of early investors like Tom Illube and Matthew Bowcock, ensures that CyberOwl is well-positioned to navigate this new chapter.
Paul Noon, Deputy Vice-Chancellor (Enterprise and Innovation) at Coventry University, reflected on this significant milestone, saying: “This is another shining example of Coventry University’s world-leading research and expertise being turned into innovative products impacting real-world challenges.” This sentiment encapsulates the broader trend in academia, where research is increasingly being translated into market-ready solutions that address pressing global issues.
As CyberOwl integrates into DNV, the maritime industry can expect enhanced services that not only address cybersecurity needs but also promote compliance and risk management throughout the maritime supply chain. This acquisition is more than just a business deal; it is a pivotal moment that could redefine how the maritime sector approaches cybersecurity, ensuring that as the industry sails into a more digital future, it does so with confidence and resilience.
