Acquired Intelligence

Schneider just selected Cognite as its partner for the future

Schneider Electric, the multinational industrial-tech company, announced June 30 that it has acquired Cognite, a leading provider of industrial data and AI software, in an all-cash transaction valued at $3.1 billion.

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 reflects that notion; boasting what's known as a "cloud native" platform that combines a unified industrial data model with AI capabilities, "enabling customers to operationalize AI directly within plant operations, asset management and engineering workflows," according to the company's website.

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."

Schneider plans to integrate Cognite into AVEVA, its wholly owned industrial software business, upon completion of the deal. The transaction remains subject to regulatory approvals and is expected to close in the coming quarters, the company said.