SCHNEIDER ELECTRIC BUYS COGNITE FOR $3.1B

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WED, JUL 1, 2026

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Schneider Electric agreed to acquire industrial AI company Cognite for $3.1 billion in an all-cash deal. The company plans to integrate Cognite with its existing industrial software unit Aveva.

The acquisition expands Schneider Electric's industrial data and AI software capabilities. Cognite specializes in industrial AI and data management, while Aveva provides manufacturing and industrial software solutions. The combined entity will serve manufacturers and industrial operators seeking to optimize operations through AI-driven insights. Schneider Electric, a French multinational specializing in energy management and automation, has been investing heavily in digital transformation tools for the industrial sector. The all-cash transaction reflects confidence in AI's value for industrial applications, where data-driven optimization can reduce downtime and improve efficiency. The integration with Aveva signals Schneider's strategy to build a comprehensive software platform addressing the full spectrum of industrial digital needs. Details on deal timing and closing conditions were not immediately available.

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SCHNEIDER ELECTRIC BUYS COGNITE FOR $3.1B

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