Saudi Aramco buys 7.4% stake in software firm Cognite

Saudi Aramco has purchased 7.4 percent stake in Norwegian industrial software group Cognite from oil firm Aker BP for $113 million.
US dollar
Cognite and Saudi Aramco are in a partnership to provide digitalisation services in Saudi Arabia and the wider Middle East region.

“Cognite has proven that their technology delivers complex real time insights seamlessly and is optimizing how energy is being supplied to the world,” Saudi Aramco Senior Vice President Ahmad A. Al-Sa’adi said in a statement.

Both Cognite and Aker BP are part of Norwegian billionaire Kjell Inge Roekke’s group of companies, whose investment firm Aker ASA has a 50.5 percent stake in Cognite.

U.S. venture capital firm Accel holds 12.4 percent while Cognite’s Chief Executive John Markus Lervik owns 7.2 percent.

Related News

Latest News

Latest News