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    Aker BP selling stake in Cognite

    April 28, 2022
    Aker BP has entered an agreement to sell its shares in Cognite to Saudi Aramco Development Co. for $118 million.
    Related To: Cognite
    Courtesy Cognite
    Cognite

    Offshore staff

    LYSAKER, Norway — Aker BP has entered an agreement to sell its shares in software developer Cognite to Saudi Aramco Development Co. (SADC) for $118 million.

    The Norwegian offshore operator co-founded Cognite to develop a data platform to support its digitalization strategy. Aker BP was Cognite’s first client and supported development of its industrial data operations platform Cognite Data Fusion, now used by companies in multiple industries.

    SADC’s option to buy reaches maturity in November 2024. Under certain conditions it then has the right to sell the shares back to Aker BP for $81 million.

    04.28.2022

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