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Saudi oil giant Aramco has acquired a stake in Norway-based industrial software company Cognite.
The oil giant made the investment by purchasing 100 percent of the shares held in the company by Aker BP, a Norwegian oil exploration and development firm, Cognite said in a statement.
Headquartered in Oslo and 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.
The company currently works with Saudi Aramco in digitalising the oil firm’s operations through Cognite’s main software product, Cognite Data Fusion (CDF).
“Cognite has proven that their technology delivers complex real-time insights seamlessly and is optimising how energy is being supplied to the world,” said Saudi Aramco Senior Vice president of Technical Services, Ahmad A. Al-Sa’adi.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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