founder says at Davos

Aker ASA

21/01/2025 17:02

By Divya Chowdhury, Jesus  Calero and Mateusz Rabiega
       DAVOS, Switzerland, Jan 21 (Reuters) - Norwegian
industrial software firm Cognite plans to shift its headquarters
to the U.S. this year to access faster-growing markets in North
America, Asia, and the Middle East, its co-founder John Markus
Lervik told Reuters on Tuesday.
    Lervik told the Reuters Global Markets Forum that Europe's
regulatory environment was hampering growth. 
    "We are doubling down in the U.S., and with the new
president's focus on investment, we're growing extra
aggressively, with over 100 open positions," he said. 
    Donald Trump's second presidency, marked by trade threats
and sweeping executive actions, poses fresh risks for European
players as tariffs and regulatory changes loom large.
    Lervik said he had had concerns about Europe's growth for a
decade, and hoped tailwinds in the U.S. would prompt European
regulators to take action as well. 
    "I think Ursula (von der Leyen) just said earlier today that
she wants to reduce regulations," he said.
    Cognite is majority-owned by Norwegian industrial investment
conglomerate Aker ASA  AKER.OL , which also controls the oil and
gas firm AkerBP. Accel, TCV and Saudi Aramco  2222.SE  are among
investors since its inception in 2016.
    The company sells software that aggregates and analyses
industrial data to clients including AkerBP  AKRBP.OL .
    Speaking alongside Lervik, AkerBP's chief digital officer
Paula Doyle said "smarter regulation" or "deregulation" would be
necessary for Europe's players to move forward in
commercializing technology and software.
    "We know that Europe hasn't been able to make the strides
into technology and software compared to... the U.S.," Doyle
said.
    Following Saudi Aramco's purchase of a 7.4% stake in the
firm, Cognite's valuation has been estimated at $1.6 billion.

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 (Reporting by Divya Chowdhury in Davos, Jesus Calero and
Mateusz Rabiega in Gdansk; Editing by Jan Harvey)
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