Cognite, an industrial SaaS company, announces Saudi Aramco, via its subsidiary Aramco Overseas Company B.V., has invested in Cognite by purchasing 100% 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 Senior Vice-President of Technical Services, Ahmad A. Al-Sa’adi

“This transaction demonstrates unprecedented confidence in Cognite and its high potential to transform the industry through technology. This comes in addition to the USD 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.