Schneider Electric signed a definitive agreement to acquire industrial AI provider Cognite for $3.1 billion. The all-cash transaction integrates Cognite’s cloud-native data platform into Schneider’s industrial software subsidiary, AVEVA.
Cognite provides a platform that unifies complex industrial data for asset-heavy industries. The technology uses AI to generate actionable insights and improve operational efficiency.
The integration aims to accelerate digital transformation for industrial clients. Schneider Electric expects to complete the transaction in the coming quarters.