Cognite
Oslo-based industrial AI software company behind Cognite Data Fusion. Schneider Electric agreed in June 2026 to acquire it for $3.1 billion.
Industry: Industrial AI and data software | Location: Oslo, Norway | Founded: 2017 | Total Funding: USD 263M
About Cognite
Cognite is a Norwegian industrial artificial intelligence company, founded in Oslo in 2016 as a spin-out of the conglomerate Aker, although some sources date its founding to 2017. Its platform, Cognite Data Fusion, takes fragmented operational data from industrial equipment and organizes it so that AI systems can use it, supporting applications such as predictive maintenance, digital twins and process optimization. Girish Rishi has been chief executive since April 2022.
The company reported more than USD 170 million in revenue in 2025, with 36 per cent growth in recurring bookings, according to The Next Web, and employs more than 800 people worldwide. Third-party estimates of its revenue and headcount vary. Its main shareholders include Aker, TCV and Accel.
In early 2022 Saudi Aramco, through its subsidiary Aramco Overseas Company, bought a 7.4 per cent stake from Aker BP for about USD 113 million, a deal that valued Cognite at just over USD 1.5 billion. Aramco was also a customer and partner. Aramco and Cognite announced in December 2020 a joint venture, held 51 per cent by Aramco and 49 per cent by Cognite, to speed industrial digitalization and sustainability initiatives in Saudi Arabia and the region, and Aker later announced that its establishment had been completed. Cognite Data Fusion has been used to streamline Aramco's operations.
On 30 June 2026 Schneider Electric agreed to buy Cognite in an all-cash transaction valued at USD 3.1 billion, which TechScoop describes as the largest software exit in Norway's history. The deal covers all of Cognite's shares and is subject to regulatory approval, with completion expected in the coming quarters. Schneider plans to fold Cognite into AVEVA, its wholly owned industrial software arm, whose CONNECT platform is set to absorb Cognite Data Fusion and the Atlas AI products. Reuters reported that Aker will receive roughly USD 1.48 billion, including repayment of a convertible loan, close to twenty times its invested capital, and Aramco's stake is now worth about USD 229 million. Schneider shares fell by as much as 2.9 per cent in Paris after the announcement.
Leadership
- John Markus Lervik, Founder
- Geir Engdahl, Chief Technology Officer, AI, and Co-founder
- Girish Rishi, Chief Executive Officer and Chairman of the Board
- Jeff Coulter, Chief Financial Officer
- Håkon Bjerke, Chief Operating Officer
- Paul Grenet, President, Global Field Operations
- Chirayu Shah, Chief Product Officer
- Petteri Vainikka, President, Cognite EMEA