Schneider Electric is buying industrial data and AI software company Cognite in an all-cash deal valued at $3.1 billion, the companies announced 30 June.
The purchase supports Schneider Electric’s goal of connecting the physical and digital worlds through electrifying, automating, and digitalizing industries, Olivier Blum, Schneider Electric CEO, said during a 1 July investor call about the deal.
“It's extremely important that we create a company that is able to connect the physical and digital world, a company where we can capture data, structure data, contextualize data, and deliver those data across the life cycle,” he said.
Cognite has a cloud-native platform that combines a unified industrial data model with agentic AI capabilities that enables customers to operationalize AI directly within plant operations, asset management, and engineering workflows.
Blum said bringing Cognite into Schneider Electric and AVEVA will unite energy management and automation infrastructure with the software and AI capabilities that will make it natively intelligent.
During the investor call, AVEVA CEO Caspar Herzberg said Cognite takes fragmented and complex industrial data and integrates it into a single unified data model and a knowledge graph supported by an agentic AI workbench that can use algorithms for dynamically modeling without a lot of coding.
“That gives us, now at AVEVA, at Cognite, and of course at Schneider, the ability to have the full life cycle of design-build-operate fully working in the cloud for our customers, for analytics,” he said.
It also solidifies the foundation for industrial robotics, he said.
“When we look at the growth in robotics in factories, the more autonomous that is going to become, the more the core data infrastructure needs to be dynamically modeled,” he said.
That calls for a combination of knowledge graph and agentic AI capabilities, he said. Cognite’s AI workbench is “incredibly important because you will be able to dynamically model the changing data, the changing operations data, the sometimes changing asset data for your robots, basically. So, I think it's going to be a key enabler of the accelerated use of robotics in factories,” Herzberg said.
Cognite was founded in 2017, and it counts ADNOC, Aker BP, and TotalEnergies amongst its customers. Its 2025 annual revenue exceeded $170 million. It employs over 800 people globally.
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the coming quarters. Upon completion, Cognite will be integrated with AVEVA and will be fully consolidated and financially reported within Schneider Electric’s Industrial Automation business.
Schneider Electric finalized its acquisition of AVEVA in 2023.