Schneider Electric has agreed to acquire industrial AI company Cognite for $3.1 billion in cash, marking a significant expansion of its industrial data management and artificial intelligence capabilities.
The company will acquire 100% of Cognite’s equity from Norway’s Aker ASA and other investors to strengthen its software presence as global manufacturers accelerate investment in automation and AI-driven operations.
Cognite specializes in industrial AI solutions designed to turn complex operational and asset data into actionable insights for heavy industry. Schneider Electric said it plans to integrate Cognite with Aveva, its existing industrial software division, which is expected to strengthen its end-to-end digital industrial platform. CEO Olivier Blume emphasized that the combination would enhance Schneider’s ability to support customers deploying AI across factory systems, energy networks, and large-scale industrial environments.
The acquisition underscores Schneider Electric’s broader strategy of expanding beyond hardware and electrical infrastructure into high-margin software products and data-driven services, particularly as demand grows for AI-based industrial process optimization. The company’s shares have risen 26% over the past year to record highs, reflecting strong investor interest in companies leading the AI infrastructure and industrial automation cycle.
Aker ASA, Cognite’s main shareholder, expects to receive approximately $1.48 billion in cash from the transaction, including repayment of an outstanding convertible loan. The transaction is expected to close in the coming quarters, subject to regulatory approvals and customary closing conditions, as consolidation accelerates in the industrial AI and software sector.