Schneider Electric to buy AI software firm Cognite for $3.1 billion (updated)
Tue 17:24
UPDATE 1-Schneider Electric to buy AI software firm Cognite for $3.1 billion Adds details on the deal and Cognite in paragraphs 3-4
June 30 (Reuters) - Schneider Electric SCHN.PA said on Tuesday it had signed an agreement to acquire Cognite Holding, a privately held provider of AI software and industrial data.
The French multinational said it would pay $3.1 billion for the whole of Cognite in an all-cash deal.
The company would be integrated into Schneider's industrial software business, AVEVA, with completion of the transaction expected in the coming quarters.
Cognite generated more than $170 million in revenue in 2025 and employs around 800 people worldwide, Schneider added in a statement.
(Reporting by Jakob Van Calster. Editing by Mark Potter)