Schneider Electric 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 pulls messy industrial data into one place and lets AI act on it. Schneider plans to fold the company into Aveva, its own industrial software arm.
The purchase tracks a shift in what industrial AI does. For years it simply described life inside a plant, flagging a fault or charting output. Now it increasingly decides and acts. Schneider wants to own that move. “Cognite has built something rare, a truly industrial grade AI platform,” chief executive Olivier Blum said. He framed the deal as a way to put Schneider “at the centre of the next...
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