Schneider Electric reported June 30 that it’s agreed to acquire industrial data and AI software provider Cognite Holding B.V. for $3.1 billion in cash.

Once the closing is completed, Cognite will be integrated with Aveva, Schneider’s wholly owned industrial software company, and will be consolidated and financially reported within its industrial automation business. Schneider adds this transaction complements the capabilities of Aveva’s Connect industrial intelligence platform, and reinforces its industrial intelligence solutions including design, build, operations and optimization.

“Cognite has built something rare, a truly industrial-grade AI platform that turns the complexity of operational data into a competitive advantage. This acquisition strengthens Aveva in the highest‑growth market segments, and centers Schneider Electric on the next industrial intelligence phase,” says Olivier Blum, CEO at Schneider Electric. “I’ve been extremely impressed by Cognite’s world-class technology team, and I’m convinced their unique AI expertise will be a catalyst in advancing intelligence across Schneider Electric’s portfolio.”

Schneider reports industrial AI is shifting from supporting analytics to executing operations, from describing what’s happening in industrial infrastructure to deciding and acting on it. It adds that capturing this shift requires more than models, and demands a unified, contextualized foundation of industrial data on which AI can be trusted to operate at scale. Schneider believes Cognite provides this foundation. Its cloud-native platform combines a unified, industrial data model with agentic AI capabilities, enabling users to operationalize AI directly within plant operations, asset management and engineering workflows.

“At Schneider Electric, we’ve always believed the energy transition demands intelligence, intelligence demands data, and unlocking its full value requires AI,” adds Blum. “By bringing Cognite into Schneider Electric and Aveva, we unite the world's most comprehensive energy-management and automation infrastructure with the software and AI capabilities to make it natively intelligent. Together, we go beyond connecting systems. We give them the ability to think, adapt, and act. This is what industrial intelligence looks like at scale.”

Cognite's scalable, open architecture combined with Connect’s capabilities means analytics and industrial AI can ingest industrial data across the asset lifecycle and throughout customers' existing data ecosystems and investments. It also extends Connect with enterprise-wide data contextualization capabilities and agentic AI.

For example, Cognite’s core technologies will act within Connect as an industrial data foundation and an AI-enabling platform:

• Cognite’s Data Fusion software and knowledge graph will enable integration, modelling and contextualization of engineering, operational and enterprise data at scale.
• Cognite’s Atlas AI will introduce modelling capabilities, and generative and agentic AI, enabling automation of industrial workflows combined with accelerated and improved decision‑making.

Founded in 2017, Cognite employs more than 800 people in the Americas, Europe, Middle East and Asia-Pacific regions, specializing in cloud‑native data and AI platforms. Its technology enables integration and contextualization of complex industrial data through a unified data model and knowledge graph, supporting analytics and AI‑driven applications. In 2025, its annual revenue exceeded $170 million thanks to 36% growth in annual, recurring-revenue (ARR) bookings and adoption of its Atlas AI platform.