Saudi Aramco, Cognite’s long-time digitalization partner in the Middle East, acquired a 7.4% stake in Cognite
Cognite, a global leader in industrial software innovation, announces today that Saudi Aramco, via its subsidiary Aramco Overseas Company B.V., has invested in Cognite by purchasing 100% of Aker BP's shares in the company.
“Cognite has proven that their technology delivers complex real-time insights seamlessly and is optimizing how energy is being supplied to the world,” says Saudi Aramco Senior Vice-President of Technical Services, Ahmad A. Al-Sa’adi. “We are impressed by the great momentum Cognite has shown since inception where it now serves some of the leading industrial companies globally.”
“This transaction demonstrates unprecedented confidence in Cognite and its high potential to transform industry through technology. This comes in addition to the USD 225 million raised from leading global technology investors TCV and Accel,” says Øyvind Eriksen, board chair of Cognite, and President and CEO of Aker ASA.
Cognite currently works with Saudi Aramco as a digitalization partner aiding in digitalizing and improving the efficiency of Saudi Aramco’s operations through Cognite’s Industrial Data Platform, Cognite Data Fusion™.
“To have the world’s leading energy company invest in Cognite is a strong show of faith in our trajectory, and in the value of contextualized, actionable data as the foundation to shape a more efficient, more sustainable industrial future,” says Dr. John Markus Lervik, CEO and co-founder of Cognite.
About Cognite
Cognite is a global industrial SaaS company that was established with a clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion™, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com and follow us on Twitter and LinkedIn
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