Schneider Electric has struck a definitive agreement to acquire 100% of Cognite Holding B.V. in an all-cash transaction valued at $3.1 billion.

 

The move is designed to accelerate its leadership in industrial artificial intelligence and deepen its software capabilities across heavy industry.

 

The deal positions Cognite’s data and AI platform at the core of Schneider Electric’s industrial software strategy, integrating it with AVEVA to strengthen what the company calls the next generation of industrial intelligence.

 

"Cognite has built something rare, a truly industrial grade AI platform that turns the complexity of operational data into a competitive advantage. This acquisition strengthens AVEVA, Schneider Electric’s wholly owned industrial software company, in the highest-growth segments of the market and positions Schneider Electric at the centre of the next phase of industrial intelligence.

 

"I have been extremely impressed by the world-class technology team and am convinced their unique AI expertise will be a catalyst in advancing intelligence across Schneider Electric’s portfolio.

 

"At Schneider Electric, we have always believed the energy transition demands intelligence, intelligence demands data, and unlocking its full value requires AI," Olivier Blum, Schneider Electric CEO, said.