Schneider Electric has agreed to acquire industrial data and AI software specialist Cognite in a US$3.1bn deal, reinforcing its strategy to deliver smarter energy management and industrial automation technologies.
Operating in more than 100 countries and employing around 160,000 people, Schneider Electric develops solutions that help buildings, data centres, infrastructure and electricity grids operate more efficiently through connected digital systems.
The acquisition is expected to further strengthen the company's ability to support organisations as they modernise energy infrastructure and accelerate the energy transition.
Founded in 2017, Cognite is known for developing industrial data and AI software designed to help organisations make better use of operational data.
The company now employs more than 800 people across the Americas, Europe, the Middle East and Asia-Pacific.
