Aker has agreed to sell its industrial software and artificial intelligence subsidiary, Cognite, to French electrical giant Schneider Electric for NOK 30.7 billion.
The transaction, announced Tuesday, is being characterized as the largest software and AI deal in Norwegian history, signaling a major shift in how industrial conglomerates are monetizing their technology holdings.
The sale represents a significant liquidity event for Aker, which has been actively restructuring its portfolio to focus on core industrial operations.
By offloading Cognite, Aker is effectively exiting the high-growth software sector, a move that may influence how other Norwegian industrial groups view their own tech subsidiaries.
The buyer, Schneider Electric, gains a substantial foothold in the industrial AI space, strengthening its position in digital energy management and industrial automation.
Market participants are likely to scrutinize the valuation, which sets a new benchmark for software assets in the Nordic region.