Saudi Arabia’s Aramco and world’s largest oil exporter has acquired 7.5 per cent of Norwegian industrial software group Cognite in return for investment estimated at about $113 million.
The Saudi energy giant takes full control of oil firm Aker BP’s shares in the company valued at just over $1.5 billion.
Both Aramco and Cognite are collaborating already as the Norwegian firm is currently digitalizing the oil firm’s operations through its main software product, Cognite Data Fusion (CDF).
“Cognite has proven that their technology delivers complex real-time insights seamlessly and is optimizing how energy is being supplied to the world,” said Saudi Aramco Senior Vice president of Technical Services, Ahmad A. Al-Sa’adi.
With offices in Tokyo, Japan, Austin and Houston, Texas, Cognite creates software for businesses operating in oil and gas, power and utilities, renewable energy, manufacturing and other asset-heavy industries.
Aramco invests about $113m in Norwegian industrial software group Cognite
