Schneider Electric buys industrial-AI firm Cognite for $3.1bn

Schneider Electric is buying Cognite, a Norwegian-founded industrial AI company, for $3.1bn in cash. The French group wants software that can make factories and power grids think for themselves. Schneider Electric said on June 30, 2026 that it had agreed to acquire all of Cognite in an all-cash deal worth $3.1bn.