Schneider Electric EURONEXT:SU said on Tuesday it had signed an agreement to acquire Cognite Holding, a privately held provider of AI software and industrial data.
The French multinational said it would pay $3.1 billion for the whole of Cognite in an all-cash deal.
The company would be integrated into Schneider's industrial software business, AVEVA, with completion of the transaction expected in the coming quarters.
Cognite generated more than $170 million in revenue in 2025 and employs around 800 people worldwide, Schneider added in a statement.