Schneider Electric signed a definitive agreement to acquire industrial AI provider Cognite for $3.1 billion. The French multinational will execute the transaction as an all-cash deal. This acquisition bolsters Schneider’s capabilities in industrial data and automated operations.
The deal merges Schneider’s automation portfolio with Cognite’s cloud-native data platform. Schneider will integrate Cognite into its AVEVA software business. The transaction targets the transition of AI from an analytics tool to a core operational component.
The move highlights the growing demand for digitalization and asset management in the industrial sector. Schneider expects to complete the transaction in the coming quarters, pending regulatory approvals. Cognite will operate within Schneider Electric’s Industrial Automation division.