Schneider Electric acquires Cognite for 2.7 billion euros

Billions Invested Schneider Electric Acquires Software Manufacturer Cognite

2026-07-06 Source: dpa | Translated by AI 1 min Reading Time

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The technology group Schneider Electric strengthens its position in industrial AI by acquiring the US software manufacturer Cognite for around 2.7 billion euros (approx. $2.9 billion).

Schneider Electric expands its industrial AI business with a billion-euro acquisition.(Image: Schneider Electric) — Schneider Electric expands its industrial AI business with a billion-euro acquisition.
(Image: Schneider Electric)

This was announced on Tuesday evening by the French company, which in part competes with the German Siemens Group. Cognite is to be merged with Schneider's own industrial software business, Aveva. Its CEO, Caspar Herzberg, stated that they had been eyeing the business for years.

Schneider's move comes against the backdrop of European manufacturers increasingly using AI in their factories to boost efficiency and optimize processes. Competitors like Siemens are also driving the use of automation and artificial intelligence in manufacturing.

Cognite is based in Tempe, Arizona, and employs around 800 people. The company generated more than 170 million dollars in revenue last year.

Even though the price of the transaction "raises questions," it fits into Schneider's overall strategy, according to Bernstein analyst Alasdair Leslie. Schneider's shares fell by up to 2.9 percent in Paris on Wednesday. Nevertheless, the stock has gained about a quarter over the year, as investors focus on companies capable of producing the infrastructure for the AI boom. Schneider is increasingly supplying energy and cooling solutions for data centers, which in turn provide the computing power and data storage required for the expansion of AI.

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