Business
Octopus AI Unit Kraken Valued at $8.7 Billion in Stake Sale
SOURCE:Bloomberg|BY:Keira Wright
UK utility Octopus Energy Group Ltd. has agreed to sell a stake in software unit Kraken Technologies at a valuation of $8.65 billion as an initial step toward spinning the business off.
Origin Energy Ltd. said Kraken Technologies Ltd., a software platform that helps utilities manage the transition to cleaner energy, has been valued at $8.65 billion after the software company’s first standalone raising.