Schneider Electric to buy industrial AI firm Cognite for $3.1B

Schneider Electric announced on Tuesday that it has signed a definitive agreement to acquire 100% of Cognite Holding, a Norwegian industrial AI and data platform company, in an all-cash deal valued at $3.1 billion. The transaction marks the largest Norwegian software and AI exit to date and ranks among the largest industrial software deals in Europe.tradingview

A European 'AI for Industry Champion'

Cognite, founded in 2017, will be integrated into AVEVA, Schneider Electric's wholly owned industrial software subsidiary. The company's cloud-native platform combines a unified industrial data model with agentic AI capabilities, allowing customers to deploy AI directly in plant operations, asset management, and engineering workflows.marketscreener

"Cognite, together with Aker, has built something rare; a truly industrial-grade AI platform that turns the complexity of operational data into competitive advantage," said Schneider Electric CEO Olivier Blum. "I am convinced their unique AI expertise will be a catalyst in advancing intelligence across Schneider Electric's portfolio."tradingview

Cognite's shareholders include Aker ASA, Saudi Aramco, and venture firms Accel and TCV. Aker, the majority owner, will receive approximately $1.48 billion in cash proceeds, representing roughly 20 times its invested capital. Aker ASA CEO Øyvind Eriksen called the deal a demonstration of "how Aker builds and realizes value through active, long-term ownership."tradingview

Strategic Rationale and Next Steps

Cognite has grown from an early-stage startup into a global technology company serving customers across energy, manufacturing, pharmaceuticals, and infrastructure. According to Aker's fourth-quarter 2025 shareholder letter, Cognite delivered 56% revenue growth over the prior two years alongside nearly eight-fold growth in Atlas AI customers.akerasa

The transaction is subject to customary regulatory approvals and is expected to close in the coming quarters. Aker said it plans to redeploy the capital toward AI, industrial software, and AI infrastructure investments, including through its holdings in Nscale and Aize.debevoise+1