Octopus Energy to spin-off Kraken in a $8.65bn deal.

Octopus Energy, a UK-based retail electricity and gas supplier, agreed to spin-off Kraken, a technology company focused on creating a smart, sustainable energy system, in a $8.65bn deal. The spin-off marks a major strategic milestone, allowing Kraken to fast-track investments into its technology, expand into new energy markets and regions, and drive innovation – all while building on its utility roots.