Cognite is a globally recognized leader in industrial software with a clear vision: to rapidly empower industrial companies with accessible, trustworthy, and contextualized data and drive the full-scale digital transformation of asset-heavy industries.
Cognite is a Norwegian-born and global company with an international presence that spans from Oslo, Norway to Austin, Texas to Tokyo, Japan. Aker owns 50.5 percent of Cognite. Other co-owners include Accel and TCV, two of the world’s most well-reputed technology investors, and Saudi Aramco, the world’s largest industrial company.
Aker's ownership agenda
Akers’ ownership agenda for Cognite is to support the company in continuing its growth and seizing opportunities in the rapidly growing industrial software market and leveraging AI. Aker also supports Cognite’s strategy for further international expansion, developing its competent organization with highly skilled staff from around the world, and further improving customer relationships.
An important focus area for Aker is that Cognite continues its focus on strategic partnerships with strong and leading players in their respective fields, that have unique competence, experience and global footprint to support the further scaling-up and commercialization of Cognite’s products. Cognite is already working in close strategic partnerships with globally leading and renowned companies such as SLB, Aramco, Rockwell Automation, Accel, TCV, Accenture, Microsoft, and others to accelerate industrial digitalization. This is expected to materialize into further opportunities and growth moving forward.
Aker’s CEO and President, Øyvind Eriksen, represents Aker on Cognite’s Board of Directors.
Cognite Data Fusion (CDF)
Industries like manufacturing, energy and shipping, have yet to have their iPhone moment in digitalization. Data is locked in separate systems and sensors, and other barriers to change impede their digital transformation and trigger inefficiencies. Cognite’s main product, CDF, solves that challenge by breaking down silos, liberating operational data from all relevant sources, and enabling smart applications that can improve operations, optimize production, reduce energy consumption, and improve efficiency.
Saudi Aramco and Cognite to accelerate industrial digitalization
Saudi Aramco Devlopment Company and Cognite have signed an agreement to establish a joint venture as part of a strategic digitalization partnership, focusing on industrial digitalization and sustainability in Saudi Arabia and the broader Middle East and North Africa region. The joint venture will develop, distribute and deploy end-to-end digital and advanced solutions for customers across industries, including oil and gas, power and utilities, manufacturing and shipping. The joint venture is expected to be operational in 2021.
Cognite’s growth journey continues with 1.6 billion dollar valuation
In October 2020, Cognite entered a partnership with Accel, a leading global venture capital firm with deep domain experience and expertise in building world class software companies. Accel’s insight and expertise in scaling and commercializing software companies globally marries perfectly with Aker’s deep industrial knowledge to accelerate Cognite’s growth.
Seven months later, TCV, a leading growth equity firm with decades of experience in scaling technology companies, became the third largest shareholder in Cognite. The Series B investment gives Cognite a post-money valuation of USD 1.6 billion.
Together, Aker, Accel and TCV will continue the ongoing work to accelerate Cognite’s growth initiatives, including product development, honing the go-to-market strategy, and scaling CDF globally.