Aker ASA just pulled off the largest software exit in Norwegian history. The conglomerate announced the sale of Cognite Holding B.V. to Schneider Electric for an enterprise value of $3.1 billion, netting Aker roughly $1.48 billion in cash proceeds.
That’s approximately 20 times what Aker originally invested in Cognite. And instead of sitting on the cash, Aker is plowing it into Nscale, a European AI infrastructure provider where it now holds around 24% ownership, making it the company’s largest shareholder.
From industrial software to AI data centers
Cognite built its reputation as an industrial data and AI platform, the kind of software that helps heavy industries make sense of their operational data. Schneider Electric, a global leader in energy management and industrial automation, was apparently willing to pay a premium to bring that capability in-house.
The sale closed on June 30, 2026, just months after Aker participated in Nscale’s Series C funding round in March 2026. That round raised roughly $2 billion, reportedly the largest Series C in European history.
