Schneider Electric Buys Cognite for $3.1 Billion

Schneider Electric is acquiring industrial AI firm Cognite for $3.1 billion in cash, aiming to strengthen its AI software and industrial data capabilities. Cognite's platform uses agentic AI to contextualize and act on data from industrial facilities, with key products Data Fusion and Atlas AI already deployed in power, oil and gas, and manufacturing sectors. Founded in 2017, Cognite employs over 800 staff globally and posted revenue exceeding $170 million in 2025, with recurring bookings up 36%. Schneider plans to integrate Cognite with its Aveva CONNECT platform. The deal is pending regulatory approval and expected to close within coming quarters.