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Schneider Electric Buys Industrial AI Company Cognite for $3.1bn
The all-cash deal will combine Cognite with Schneider's Aveva unit as European manufacturers accelerate AI adoption, the companies said.
- On Tuesday, Schneider Electric agreed to acquire 100% of Cognite from Norway's Aker ASA and other investors in an all-cash deal worth $3.1 billion, significantly expanding its industrial data and AI software business.
- Schneider plans to fold Cognite into Aveva, its industrial software unit, to better manage complex operational data and position itself at the center of the next phase of industrial intelligence.
- Cognite employs more than 800 people globally and reported revenue passing $170mn in 2025, with recurring bookings rising 36 per cent. "We give them the ability to think, adapt, and act," Schneider Chief Executive Officer Olivier Blum said of the company's systems.
- Aker, the investment firm that helped establish Cognite in 2017, expects about $1.48 billion in cash proceeds from the sale, including settlement of a convertible loan. Rivals like Siemens AG continue competing for dominance in the crowded industrial AI market.
- The deal awaits regulatory clearance, with the companies expecting completion in the coming quarters. Upon approval, Schneider intends to bind Cognite with its CONNECT platform to offer unified software spanning industrial asset design, operation, and optimization.
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Schneider buys industrial-AI firm Cognite for $3.1bn
Schneider Electric is buying Cognite, a Norwegian-founded industrial AI company, for $3.1bn in cash. The French group wants software that can make factories and power grids think for themselves. Schneider Electric said on June 30, 2026 that it had agreed to acquire all of Cognite in an all-cash deal worth $3.1bn. Cognite builds software that […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Total News Sources21
Leaning Left2Leaning Right4Center4Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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