Octopus Energy Eyes Demerger of Tech Arm Kraken, Sky Says

The UK’s largest electricity supplier, Octopus Energy Group Ltd., is planning to separate its Kraken Technologies Ltd. business, Sky News reported, citing people familiar with the matter.

The firm is close to hiring bankers to separate Kraken, which licenses an operating system to utilities. The unit could be valued as much as $14 billion, Sky reported, citing one of the people.