Technology
ABB to Divest Cable Business to NKT Cables

By Dipo Olowookere
NKT Cables is acquiring ABB’s global high-voltage cable system business with a total enterprise value of 836 million euros (US$934 million). High voltage cables are key components in sustainable energy networks, used for transmitting large amounts of electricity over long distances. The business is part of ABB’s Power Grids division, which is currently undergoing a strategic review.
NKT Cables designs, manufactures and supplies power cables for low-, medium- and high-voltage solutions mainly in the Alternating Current (AC)-area. It has major production facilities in Europe and China as well as sales offices around the world, and employs around 3,200 people. In 2015, revenue was 1.2 billion euros.
“We are combining two strong cable portfolios rooted in a shared Nordic heritage that will be more competitive on a larger scale under NKT Cables’ ownership, while maintaining access to supply through a long-term strategic partnership,” said ABB CEO Ulrich Spiesshofer.
“The combination of our niche cable system business with the strength of NKT Cables demonstrates our commitment to active portfolio management, a key element of our Next Level strategy.”
ABB’s high-voltage cable technology and manufacturing as well as service footprint is highly complementary with NKT Cables’ activities, making the combined business ideally suited to serve the rising global demand for long-distance power transmission cable systems. The combined operational scale and reach of the two businesses is expected to lead to even better service for global customers.
“ABB’s high-voltage cable business will add considerable strength to our portfolio and bring us a world-class manufacturing operation. We will leverage the technology, domain competence and highly skilled workforce to grow this business,” said Michael Hedegaard Lyng, President and CEO of NKT Cables. “We look forward to ramping up our long-term partnership that will serve future projects all around the world.”
ABB’s cable system business offers turnkey solutions including design, engineering, supply, installation, commissioning and service. It had adjusted standalone revenues of US$524 million in 2015, employs around 900 people, and has state-of-the art manufacturing and R&D capabilities for high-voltage submarine and underground cables in Karlskrona, Sweden. The transfer of assets also includes a new, cutting-edge cable-laying vessel, currently under construction. With experience of over a century, the business serves a range of applications and has commissioned hundreds of alternating current and direct current links around the world.
“As part of the strategic partnership, ABB and NKT Cables will work together on future projects to access market opportunities in areas like sub-sea interconnections and Direct Current (DC) transmission links”, said Claudio Facchin, president of ABB’s Power Grids division. “This transaction will simplify and focus the Power Grids portfolio.”
The transaction is anticipated to close in Q1 2017, subject to regulatory clearances and fulfilment of the closing conditions. Goldman Sachs acted as exclusive financial advisor to ABB and Freshfields Bruckhaus Deringer as legal advisor.
ABB will report on the progress of its Next Level strategy, including the strategic portfolio review of its Power Grids division, at its upcoming Capital Markets Day on October 4, 2016.
ABB (www.abb.com) is a leading global technology company in power and automation that enables utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in more than 100 countries and employs about 135,000 people.
Technology
Capillary Technologies Acquires SessionM from Mastercard
By Modupe Gbadeyanka
A software product company established in 2012, Capillary Technologies India Limited, has acquired the customer engagement and loyalty company, SessionM, from Mastercard.
This followed a definitive agreement signed by the global leader in AI-powered customer loyalty and engagement solutions with the renowned digital payments firm.
The acquisition of SessionM is the latest in a series of strategic moves by Capillary, following its successful listing on the Indian Stock Exchange in November 2025.
With SessionM in its portfolio, Capillary reinforces its position as a global leader in enterprise loyalty, offering a leading platform to the world’s most sophisticated enterprise brands.
Mastercard has identified Capillary Technologies—consistently recognised as a Leader in The Forrester Wave as the ideal partner to lead SessionM into its next era of growth.
As part of the agreement, a specialised team within SessionM will transition to Capillary, ensuring that the platform’s deep technical expertise is preserved.
SessionM’s esteemed global customer base—which includes Fortune 500 retailers, airlines, and CPG brands—will continue to receive the same high-calibre support and service they experienced before the acquisition.
“M&A has been a key growth strategy for Capillary over the years, and as a public company, we are delivering on that promise to our shareholders and the market.
“By bringing SessionM into our portfolio, we are not just expanding our footprint across the globe; we are further strengthening our loyalty capabilities to deliver one of the industry’s most comprehensive offerings.
“Our mission remains to provide enterprises across industries with specialised, AI-native loyalty technology solutions,” the chief executive of Capillary Technologies, Aneesh Reddy, commented.
Technology
Emergent Ventures, Others Invest $2.2m in Potpie
By Dipo Olowookere
About $2.2 million pre-seed round to help engineering teams unify context across their entire stack and make AI agents genuinely useful in complex software environments has been announced by Potpie.
Potpie was established by Aditi Kothari and Dhiren Mathur, who were determined to unify context across the entire engineering stack and enabling spec driven development.
As generative AI adoption accelerates, most tools focus on surface-level code generation while ignoring the deeper problem of context.
Large language models are powerful, but without access to system-level understanding, tooling history, and architectural intent, they struggle in real production environments.
Traditional approaches rely on senior engineers to manually hold this context together, a model that breaks down at scale and fails when AI agents are introduced.
The platform enables teams to automate high-impact and non-trivial use cases across the software development lifecycle, like debugging cross-service failures, maintaining and writing end-to-end tests, blast radius detection and system design.
It is designed for enterprise companies with large and complex codebases, starting at around one million lines of code and scaling to hundreds of millions.
Rather than acting as another coding assistant, Potpie builds a graphical representation of software systems, infers behaviour and patterns across modules, and creates structured artefacts that allow agents to operate consistently and safely.
A statement made available to Business Post on Monday revealed that the funding support came from Emergent Ventures, All In Capital, DeVC and Point One Capital.
The capital will be used to support early enterprise deployments, expand the engineering team, and continue building Potpie’s core context and agent infrastructure, it was disclosed.
“As AI makes code generation easier, the real challenge shifts to reasoning across massive, interconnected systems. Potpie is our answer to that shift, an ontology-first layer that helps enterprises truly understand and manage their software,” Kothari was quoted as saying in the disclosure.
A Managing Partner at Emergent Ventures, Anupam Rastogi, said, “In large enterprises, the real challenge is not generating code, it is understanding the system deeply enough to change it safely.
“Potpie’s ontology-first architecture, combined with rigorous context curation and spec-driven development, creates a structured model of the entire engineering ecosystem. This allows AI agents to reason across services, dependencies, tickets, and production signals with the clarity of a senior engineer. That is what makes Potpie uniquely capable of solving complex RCA, impact analysis, and high-risk feature work even in codebases exceeding 50 million lines.”
Technology
Expert Reveals Top Cyber Threats Organisations Will Encounter in 2026
By Adedapo Adesanya
Organisations in 2026 face a cybersecurity landscape markedly different from previous years, driven by rapid artificial intelligence adoption, entrenched remote work models, and increasingly interconnected digital systems, with experts warning that these shifts have expanded attack surfaces faster than many security teams can effectively monitor.
According to the World Economic Forum’s Global Cybersecurity Outlook 2026, AI-related vulnerabilities now rank among the most urgent concerns, with 87 per cent of cybersecurity professionals worldwide highlighting them as a top risk.
In a note shared with Business Post, Mr Danny Mitchell, Cybersecurity Writer at Heimdal, said artificial intelligence presents a “category shift” in cyber risk.
“Attackers are manipulating the logic systems that increasingly run critical business processes,” he explained, noting that AI models controlling loan decisions or infrastructure have become high-value targets. Machine learning systems can be poisoned with corrupted training data or manipulated through adversarial inputs, often without immediate detection.
Mr Mitchell also warned that AI-powered phishing and fraud are growing more sophisticated. Deepfake technology and advanced language models now produce convincing emails, voice calls and videos that evade traditional detection.
“The sophistication of modern phishing means organisations can no longer rely solely on employee awareness training,” he said, urging multi-channel verification for sensitive transactions.
Supply chain vulnerabilities remain another major threat. Modern software ecosystems rely on numerous vendors and open-source components, each representing a potential entry point.
“Most organisations lack complete visibility into their software supply chain,” Mr Mitchell said, adding that attackers frequently exploit trusted vendors or update mechanisms to bypass perimeter defences.
Meanwhile, unpatched software vulnerabilities continue to expose organisations to risk, as attackers use automated tools to scan for weaknesses within hours of public disclosure. Legacy systems and critical infrastructure are especially difficult to secure.
Ransomware operations have also evolved, with criminals spending weeks inside networks before launching attacks.
“Modern ransomware operations function like businesses,” Mitchell observed, employing double extortion tactics to maximise pressure on victims.
Mr Mitchell concluded that the common thread across 2026 threats is complexity, noting that organisations need to abandon the idea that they can defend against everything equally, as this approach spreads resources too thin and leaves critical assets exposed.
“You cannot protect what you don’t know exists,” he said, urging organisations to prioritise visibility, map dependencies, and focus resources on the most critical assets.
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