Aramco invests in Cognite | Business

OSLO, Norway–(BUSINESS WIRE)–February 2, 2022–

To knowa global leader in industrial software innovation, today announced that Saudi Aramco, through its subsidiary Aramco Overseas Company BV, has invested in Cognite by acquiring Aker BP’s 100% stake in the company.

“Cognite has proven that its technology delivers complex real-time information seamlessly and optimizes the way energy is delivered to the world,” said Ahmad A. Al-Sa’adi, senior vice president of technical services at Saudi. Aramco. “We are impressed with the tremendous momentum Cognite has shown since its inception, where it now serves some of the world’s leading industrial companies.”

“This transaction demonstrates unprecedented confidence in Cognite and its strong potential to transform the industry through technology. This is in addition to $225 million raised from leading global technology investors TCV and Accel,” said Øyvind Eriksen, Chairman of the Board of Cognite and President and CEO of Aker ASA.

Cognite is currently working with Saudi Aramco as a digitization partner helping to digitize and improve the efficiency of Saudi Aramco’s operations through Cognite’s Industrial Data Platform, Cognitive Data Fusion ™.

“Having the world’s energy leader invest in Cognite is proof of confidence in our trajectory and in the value of contextualized, actionable data as the foundation for shaping a more efficient and 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 created with a clear vision: to rapidly empower industrial enterprises with contextualized, trusted, and accessible data to help drive the large-scale digital transformation of heavy industries into assets around the world. Our central industrial DataOps platform, Cognite Data Fusion™, enables data and industry domain users to quickly and securely collaborate to develop, operationalize and scale industrial AI solutions and applications to ensure both cost effectiveness and sustainability. Visit us at www.cognite.com and follow us on Twitter and LinkedIn.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220201005921/en/

CONTACT: Press contact:

Michelle Holford

Global PR Manager, Cognite

[email protected]

KEYWORD: UNITED STATES CANADA NORTH AMERICA SAUDI ARABIA EUROPE NORWAY MIDDLE EAST TEXAS

KEYWORD INDUSTRY: DATA MANAGEMENT OTHER ENERGY TECHNOLOGIES OIL/GAS ENERGY SOFTWARE INTERNET

SOURCE: Cognite

Copyright BusinessWire 2022.

PUBLISHED: 02/02/2022 01:00 AM/DISC: 02/02/2022 01:02 AM

http://www.businesswire.com/news/home/20220201005921/en

Copyright BusinessWire 2022.

Comments are closed.