Cognite

Cognite is a Norwegian software company, including in the industrial Internet of Things (IIoT). The company is headquartered in Oslo, and Cognite also has offices in Tokyo, Houston and Austin ( by February 2022).

History

2022: Saudi Aramco buys 7.4% stake in Cognite from Aker BP

In early February 2022, Saudi Aramco acquired a 7.4% stake in Cognite from the oil company Aker BP.

The price for the package was "about NOK 1 billion," or about $113 million, a spokesman for Aker BP told Reuters, valuing Cognite at just over $1.5 billion.

Saudi Aramco buys 7.4% stake in Cognite

Prior to the deal, Cognite and Saudi Aramco collaborated to provide digitalization services in Saudi Arabia and the wider Middle East region.

Cognite has proven that their technology seamlessly provides complex analytical data in real time and optimizes energy supplies in the world, "said Ahmad A. Al-Saadi, senior vice president of Saudi Aramco.

Both Cognite and Aker BP are part of the group of companies of the Norwegian billionaire Kjell Inge Røkke, whose investment firm Aker ASA owns a 50.5% stake in Cognite. The American venture capital company Accel owns 12.4%, and Cognite CEO John Marcus Lerwick owns 7.2%.

Aker BP is a Norwegian oil exploration and development company that specializes in oil resources on the country's continental shelf. Aker BP is headquartered in Fornebu, and additional offices are located in Trondheim, Stavanger and Harstad.

Saudi Aramco is the national oil company of Saudi Arabia. It is considered the largest oil company in the world in terms of oil production and the size of oil reserves. Saudi Aramco provides up to 80% of revenues to the budget of Saudi Arabia (data for February 2022).^[1]

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