Schneider Electric announces agreement to acquire Cognite, unlocking a new level of strategic intelligence for Industrial AI

Rueil-Malmaison, France — June 30th, 2026 — Schneider Electric, a global leader in energy management and automation, today announces that it has entered into a definitive agreement to acquire 100% of Cognite Holding B.V. (“Cognite”), a leading provider of industrial data and AI software, in an all-cash transaction valued at $3.1 billion.

Strengthening Schneider Electric’s leadership in industrial AI

Industrial AI is shifting from supporting analytics to executing operations, from describing what is happening in industrial infrastructure to deciding and acting on it. Capturing this shift requires more than models: it requires a unified, contextualized foundation of industrial data on which AI can be trusted to operate at scale.

Cognite brings that foundation. Its cloud native platform combines a unified industrial data model with agentic AI capabilities, enabling customers to operationalize AI directly within plant operations, asset management and engineering workflows.

Olivier Blum, Schneider Electric CEO, commented: “Cognite has built something rare, a truly industrial grade AI platform that turns the complexity of operational data into a competitive advantage. This acquisition strengthens AVEVA, Schneider Electric’s wholly owned industrial software company, in the highest-growth segments of the market and positions Schneider Electric at the centre of the next phase of industrial intelligence.

I have been extremely impressed by the world-class technology team and am convinced their unique AI expertise will be a catalyst in advancing intelligence across Schneider Electric’s portfolio.

At Schneider Electric, we have always believed the energy transition demands intelligence, intelligence demands data, and unlocking its full value requires AI. And the same is required in operations across process and discrete manufacturing where data in context is leveraged by AI leading to efficiency and sustainable outcomes.

By bringing Cognite into Schneider Electric and AVEVA, we unite the world's most comprehensive energy management and automation infrastructure with the software and AI capabilities to make it natively intelligent. Together, we go beyond connecting systems. We give them the ability to think, adapt, and act. This is what industrial intelligence looks like at scale.”

A leading industrial AI platform with strong growth momentum

Cognite was founded in 2017 and today employs more than 800 people in the Americas, Europe, Middle East and Asia-Pacific, specializing in cloud-native data and AI platforms. Its technology enables the integration and contextualization of complex industrial data through a unified data model and knowledge graph, supporting advanced analytics and AI-driven applications for asset-intensive industries.

In 2025, the annual revenue exceeded $170 million, marked by 36% growth in ARR bookings and a rapid adoption of the Atlas AI platform. (Cognite’s Moonshot and AI Drive Record-Breaking Year)

The transaction complements the capabilities of AVEVA’s CONNECT industrial intelligence platform, reinforcing it as a leader for comprehensive industrial intelligence solutions spanning design, build, operation and optimization.

Compelling strategic fit with AVEVA

Cognite's scalable, open architecture combined with the capabilities of CONNECT means that analytics and industrial AI can ingest industrial data across the asset lifecycle and throughout customers' existing data ecosystems and investments. The combination extends CONNECT with enterprise-wide data contextualization capabilities and leading-edge agentic AI.

Cognite’s core technologies will act as a powerful data and AI enabler within CONNECT:

• Industrial Data Foundation: Cognite’s Data Fusion and knowledge graph enable the integration, modelling and contextualization of engineering, operational and enterprise data at scale.
• AI Platform: Atlas AI introduces advanced modelling capabilities, generative and agentic AI, enabling automation of industrial workflows combined with accelerated and improved decision-making.

Together, Cognite and AVEVA will form a unified platform built for the next phase of intelligence for industrial AI.

Transaction terms and next steps

Under the terms of the agreement, Schneider Electric will acquire 100% of Cognite’s share capital in an all-cash transaction. The completion of the transaction remains subject to customary closing conditions, including the receipt of required regulatory approvals. The transaction is expected to be completed in the coming quarters. Upon completion, Cognite will be integrated with AVEVA and will be fully consolidated and financially reported within Schneider Electric’s Industrial Automation business.

Analysts call and further information

Schneider Electric will be hosting a call for analysts and investors at 7:30 am CET on Wednesday July 1st, 2026.

Participants are advised to join the call at least 10-15 minutes prior to the commencement of the call to register. Presentation materials will be available ahead of the call on the Schneider Electric website. Please connect to the call via the following link: Access to the call

About Schneider Electric

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.

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About AVEVA

AVEVA is a global leader in industrial software, sparking ingenuity to drive responsible use of the world’s resources. Over 90% of leading industrial enterprises rely on AVEVA to help them deliver life’s essentials: safe, reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA helps them engineer capital projects more efficiently, operate better and create sustainable value, from the plant to the cloud and beyond. Through our industrial intelligence platform, CONNECT, and our trusted and secure information management applications enriched with industrial AI, AVEVA empowers businesses to drive deeper collaboration between teams and to accelerate insight across their ecosystem of suppliers, partners and customers. Named as one of the world’s most innovative companies, AVEVA's open solutions draw on the expertise of more than 6,000 employees, 5,000 partners and 5,700 certified developers. The company, which has operations around the globe, is headquartered in Cambridge, UK. Learn more at www.aveva.com.