Schneider Electric has signed a definitive agreement to acquire industrial artificial intelligence software company Cognite in an all-cash transaction valued at $3.1 billion, marking one of the largest industrial AI acquisitions in Europe and reinforcing the French energy management and automation group’s ambitions in the rapidly expanding industrial intelligence market.
The acquisition will see Cognite integrated into AVEVA, Schneider Electric’s industrial software business, creating a more comprehensive platform for industrial data management, automation and artificial intelligence. The transaction remains subject to customary regulatory approvals and is expected to close in the coming quarters.
Founded in 2017, Cognite has established itself as one of the leading providers of industrial data and AI software. Its cloud-native platform enables manufacturers, energy companies and other asset-intensive industries to collect, organise and analyse complex operational data, allowing businesses to optimise production, improve maintenance planning and make faster operational decisions using artificial intelligence.
Schneider Electric said the acquisition is designed to strengthen its position in industrial AI by combining Cognite’s advanced data modelling and AI capabilities with AVEVA’s industrial software portfolio. The company believes the combination will enable customers to move beyond traditional analytics toward AI-powered systems capable of supporting autonomous industrial operations and more intelligent decision-making.
Chief Executive Officer Olivier Blum described Cognite as a company that has developed an industrial-grade AI platform capable of transforming operational data into a strategic asset. He said integrating Cognite with Schneider Electric’s existing technologies would accelerate the development of intelligent industrial systems capable of improving productivity, efficiency and sustainability across multiple industries.
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The deal comes as manufacturers, utilities and infrastructure operators increasingly invest in artificial intelligence to modernise operations. Industrial AI has become one of the fastest-growing segments of enterprise technology as companies seek to reduce downtime, improve energy efficiency and automate complex production processes through advanced software.
Cognite employs more than 800 people across North America, Europe, the Middle East and Asia-Pacific. The company generated more than $170 million in revenue during 2025 while recording strong annual recurring revenue growth, driven by rising demand for its industrial AI platform and data integration technologies. Its flagship products, including Cognite Data Fusion and Atlas AI, help industrial companies unify engineering, operational and enterprise data while deploying AI applications across production environments.
Once the acquisition is completed, Cognite’s technologies will become part of AVEVA’s CONNECT industrial intelligence platform. Schneider Electric expects the integration to provide customers with enhanced capabilities for data contextualisation, predictive analytics, digital twins, generative AI and agentic AI applications capable of supporting increasingly autonomous industrial operations.
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Industry analysts view the acquisition as a strategic response to intensifying competition in industrial software and artificial intelligence. Global technology companies and industrial automation providers are investing heavily in AI-driven platforms as manufacturers accelerate digital transformation initiatives. By combining hardware, industrial software and AI capabilities under a single ecosystem, Schneider Electric aims to strengthen its competitive position in sectors such as manufacturing, energy, mining, chemicals and infrastructure.
The transaction also represents a significant milestone for Norway’s technology sector. Cognite, originally backed by industrial investment company Aker ASA, has grown into one of Europe’s leading industrial AI firms since its launch less than a decade ago. The $3.1 billion sale is expected to rank among the largest software and AI exits ever completed by a Norwegian company.
Beyond expanding Schneider Electric’s software capabilities, the acquisition aligns with broader industry trends toward intelligent automation and data-driven industrial operations. Businesses are increasingly seeking platforms that combine operational technology, cloud computing and artificial intelligence to improve productivity while supporting sustainability goals through more efficient energy use and resource management.
For Schneider Electric, the acquisition reinforces a long-term strategy centred on digitalisation, electrification and automation. Rather than relying solely on hardware and infrastructure solutions, the company is expanding its software and AI portfolio to deliver end-to-end industrial intelligence solutions capable of managing the full lifecycle of industrial assets.
As artificial intelligence reshapes industrial operations worldwide, the acquisition positions Schneider Electric to play a larger role in helping businesses transition to smarter, more connected and increasingly autonomous production environments. The addition of Cognite’s AI expertise is expected to accelerate innovation across Schneider Electric’s software portfolio while creating new opportunities for customers seeking to harness industrial data to improve efficiency, resilience and long-term competitiveness.
