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billion. The transaction will be the largest Norwegian software and AI exit to
date and ranks among the largest industrial software transactions in Europe.
It reflects the increasing industrial relevance of AI and data-driven
solutions across capital-intensive sectors.
Key transaction terms:
- Enterprise value: USD 3.1 billion
- Estimated cash proceeds to Aker (including settlement of outstanding
convertible loan): USD 1.48 billion (equivalent to NOK 14.7 billion at
USD/NOK 9.92)
- The transaction proceeds to Aker represents an uplift to the reported Net
Asset Value (NAV) per Q1 2026 of NOK 7.4 billion or approximately NOK 100
per share
“This transaction clearly demonstrates the value created in Cognite and how
Aker builds and realizes value through active, long-term ownership. Together
with our co-shareholders and Cognite employees, we have developed Cognite into
a global industrial data and AI company,” says Øyvind Eriksen, President and
CEO of Aker ASA and he continues:
“Cognite gains a strong industrial owner with global reach and a strong
position in energy management, automation, and industrial software. Together,
this creates a highly complementary platform with a broad software offering, a
large international customer base and a unique opportunity to build a European
“AI for industry champion”. At the same time, Aker releases capital for new
investments. AI will remain a key priority for Aker, including through Nscale
and Aize,” says Eriksen.
Olivier Blum, Schneider Electric CEO, commented: “Cognite, together with Aker,
has built something rare; a truly industrial-grade AI platform that turns the
complexity of operational data into competitive advantage. I have been
extremely impressed by the world-class technology team and am convinced their
unique AI expertise will be a catalyst in advancing intelligence across
Schneider Electric’s portfolio.”
Cognite was established by Aker, John Markus Lervik, Geir Engdahl and Stein
Danielsen in 2017 and has since grown significantly and developed into a
leading global provider of industrial data and AI platform technology. Through
active ownership, industrial expertise, strategic partnerships, and capital
commitments, Aker together with Aramco, Accel and TCV have contributed to
scale Cognite from an early-stage company into a global technology company
with customers across sectors including energy, manufacturing,
pharmaceuticals, and infrastructure.
The combination of Cognite’s industrial data platform with Schneider
Electric’s global software footprint and industrial customer base is expected
to provide an enhanced foundation for accelerating the development and
deployment of AI-based solutions across industrial applications.
As per Q1 2026, Aker’s equity ownership stake in Cognite was reported at NOK
6.7 billion of Aker’s Net Asset Value (NAV). The reported value reflects the
third-party transaction with TCV in 2021 (at the then prevailing USD/NOK
currency rate), subsequently re-confirmed by the Aramco transaction in 2022.
In addition, Aker’s NAV per Q1 2026 included NOK 0.62 billion in an
outstanding convertible loan to Cognite which will be converted to equity and
settled as part of the transaction. The transaction demonstrates a significant
value realization for Aker with total cash proceeds of approximately USD 1.48
billion (corresponding to NOK 14.7 billion at USD/NOK 9.92) for its fully
diluted ownership stake in Cognite, equivalent to approximately 20x invested
capital. The transaction is subject to customary regulatory approvals.
The transaction considerably strengthens Aker’s financial position and
investment capacity. Aker remains focused on developing investment
opportunities across AI, industrial software, and AI infrastructure, including
through existing portfolio holdings such as Nscale and Aize.
About Cognite
Cognite is a global provider of industrial data and AI platforms that enable
improved efficiency, cost reductions, and better decision-making in
capital-intensive industries. Its technology is used by leading industrial
companies to leverage operational data in real time.
About Schneider Electric
Schneider Electric (EPA: SU) is a global technology company in energy
management, automation, and digitalization. The company provides software and
digital solutions for managing energy and industrial operations. Its fully
owned subsidiary, AVEVA, is the group’s industrial software platform,
developing solutions for design, operation, and optimization of complex
industrial assets.
Media contact:
Atle Kigen, Head of Media Relations and Public Affairs
+47 90 78 48 78
atle.kigen@akerasa.com
Investor contact:
Svein Oskar Stoknes, Chief Financial Officer
+47 94 80 46 43
svein.stoknes@akerasa.com
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-06-30 17:47 CEST.
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