Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Saudi Aramco Buys Aker BP's Shares In Cognite

Saudi Aramco Buys Aker BP's Shares In Cognite

Saudia Arabia’s energy giant Saudi Aramco, Cognite’s long-time digitalization partner in the Middle East, has acquired a 7.4 percent stake in Cognite.
Cognite, an industrial software innovation firm, said that Saudi Aramco – via its subsidiary Aramco Overseas Company – invested in Cognite by purchasing 100 percent 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 SVP 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,” he added.

“This transaction demonstrates unprecedented confidence in Cognite and its high potential to transform industry through technology. This comes in addition to the $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 John Markus Lervik, CEO and co-founder of Cognite.

Founded in 2017, Cognite provides software that helps read, connect, and analyze data from various sensors, allowing companies to improve the operations and safety of industrial installations, such as oil and gas platforms.

To remind, Silicon Valley venture capital firm TCV will invest $150 million in Cognite, taking a 9.4 percent stake. As for the stake structure of major stakeholders Aker, an investment firm controlled by Norwegian billionaire Kjell Inge Roekke, holds a 50.5 stake.

U.S. venture capital firm Accel has 12.4 percent, Aker BP’s 7.4 percent has now been transferred to Saudi Aramco, and Cognite CEO Lervik holds 7.2 percent. The remaining stake is held by smaller stakeholders.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×