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Schneider Electric agrees to buy Cognite for $3.1 billion and fold it into AVEVA
Cognite Data Fusion and Atlas AI are to be connected to AVEVA's CONNECT platform once the all-cash deal closes.
Schneider Electric announced on 30 June 2026 a definitive agreement to acquire Cognite, the Norwegian industrial data and AI software company, in an all-cash transaction valued at $3.1 billion for 100% of Cognite Holding B.V.
Schneider plans to integrate Cognite with AVEVA, its industrial software business, and to report it within its Industrial Automation business. Cognite Data Fusion, its industrial knowledge graph and the Atlas AI platform are intended to serve as data and AI foundations within AVEVA's CONNECT platform.
Cognite's annual revenue exceeded $170 million in 2025, its annual recurring revenue bookings grew 36%, and it employs more than 800 people, according to the announcement.
Completion is subject to customary conditions, including regulatory approvals; the companies said they expected the deal to close in the coming quarters.
Cognite has built something rare, a truly industrial grade AI platform
Sources
- Schneider Electric announces agreement to acquire CogniteCognite · 30 June 2026 · accessed 23 October 2026
- Schneider Electric to acquire Cognite for $3.1billionSchnitger Corporation · 30 June 2026 · accessed 23 October 2026