Akers ownership interest in Cognite is 65.2 per cent. The investment in Cognite has a book value of NOK 42 million, corrosponding to less than 0.1 percent of Aker’s total assets per 31 December 2018. Øyvind Eriksen represents Aker on the Board of Directors.
AKER’S OWNERSHIP AGENDA
Aker has developed a growth strategy for Cognite in form of turnover, diversification of customers in different sectors and international expansion. Cognite achieved growth throughout 2018, in line with the digitalisation company’s ambitious business plan.
As owner, Aker finds it necessary that Cognite attracts highly skilled and brilliant programmers. The company continues to attract highly qualified staff and had a workforce of 110 employees at year-end 2018, compared to 37 at the end of 2017. Per first quarter 2019, Cognite had brought its workforce to 200 employees from 23 nations.
Cognite has been awarded a contract to develop a digitalisation strategy for Aker BP, and its digital data platform has been an important factor in the oil company’s efforts to make operations more secure and efficient. Aker BP continues to be Cognites most important customer, but during the course of 2018, Cognite also demonstrated considerable commercial potential commercial possibilities outside the oil and gas sector.
In 2019, Cognite will establish a local presence in the US and Japan, and pursuing opportunities for strategic partnerships. In the long term, the plan is a listing of the company on the stock exchange.