Schneider Electric invests $3.1B in industrial AI

French company Schneider Electric announced the signing of a $3.1 billion acquisition deal with Cognite Holding, a company specializing in artificial intelligence software and industrial data. The move aims to strengthen its presence in the AI-powered industrial software market. Cognite will join Schneider’s Industrial Software division, Afiva. The deal is expected to be finalized in the upcoming quarter and will support the development of industrial asset management platforms and enhance operational efficiency across various industrial sectors. This transaction represents the largest exit by a software and AI company in Norway and one of the biggest deals in Europe in this field.

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