Schneider Electric is buying industrial-AI firm Cognite for $3.1bn in cash, folding it into Aveva to push agentic AI onto the European factory floor.

Schneider Electric is buying industrial-AI firm Cognite for $3.1bn in cash, folding it into Aveva to push agentic AI onto the European factory floor.

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