French multinational energy firm Schneider Electric SE announced today that it is acquiring an industrial artificial intelligence company named Cognite Holding B.V. in a $3.1 billion all-cash transaction, aiming to enhance its AI software and industrial data operations.
The agreement underscores the changing landscape of industrial AI, which has for years merely tracked activities in industrial sites like power plants, documenting outputs and identifying issues that needed maintenance.
Currently, industrial AI is becoming significantly more autonomous, capable of making decisions and taking actions independently, and Schneider has concluded that it must take ownership of that.
Olivier Blum, the CEO of Schneider says, “Cognite has developed something exceptional, an AI platform of genuine industrial quality. The acquisition will position his company at the forefront of the next phase of industrial intelligence.”
The organization has created AI software that consolidates chaotic industrial data from various facilities into a single location, enabling intelligent agents to operate on it independently. Established in 2017, it has expanded to hire over 800 employees throughout the Americas, Europe, the Middle East, and Asia-Pacific.
Its platform combines a cohesive data model and knowledge graph with intelligent AI agents that assist in cleaning and linking the data generated from industrial machines. Subsequent agents can assess that data and streamline workflows according to its insights.
Two main products accomplish this task. Data Fusion is the data framework that manages the complex task of contextualizing and utilizing industrial data. Atlas AI delivers the agentic layer that streamlines tasks and accelerates decision-making. This indicates that an agent could detect a malfunctioning pump, request the necessary parts to repair it, and then arrange for the repair, with a person approving that action.
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Schneider stated it will merge these products with the Aveva CONNECT platform. Aveva is a software company located in Cambridge, U.K., which was formerly purchased by the energy giant and is dedicated to the design, management, and enhancement of industrial assets.
Cognite’s AI solutions have been implemented in sectors like electricity production, petroleum and natural gas, and manufacturing. These sectors possess vast amounts of data that has gathered over many years but is seldom utilized effectively. Cognite’s AI agents ultimately address that issue, which accounts for its significant growth since its inception.
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In 2025, its earnings surpassed $170 million, with recurring bookings rising by 36percent. Cognite’s investors will gain significantly from the transaction. For example, the Norwegian investment firm Aker, instrumental in establishing the company in 2017, anticipates obtaining approximately $1.48 billion in cash from the sale.
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The agreement occurs amidst a rising interest in industrial AI, particularly in Europe, where producers are aiming to boost their efficiency and minimize waste. Blum mentioned that Europe is eager to adopt cleaner energy sources and lessen its dependence on Russian oil and gas, and this shift necessitates intelligence.