Schneider Electric to buy AI software firm Cognite for $3.1 billion

June 30 (Reuters) - Schneider Electric said on Tuesday it had signed an agreement to acquire Cognite Holding, a privately held provider of AI software and industrial data.

The French multinational said it would pay $3.1 billion for the whole of Cognite in an all-cash deal.  

The company would be integrated into Schneider's industrial software business, AVEVA, with completion of the transaction expected in the coming quarters.

Cognite generated more than $170 million in revenue in 2025 and employs around 800 people worldwide, Schneider added in a statement. 

(Reporting by Jakob Van Calster. Editing by Mark Potter)