France's Schneider Electric said on June 30, 2026, that it has signed a definitive agreement to acquire industrial data and AI software firm Cognite Holding B.V. for $3.1 billion in cash. The all-cash purchase of the entire company will be made primarily from Norway's Aker ASA and other investors, and is expected to close within the coming quarters subject to regulatory approvals and other customary conditions. Once completed, Cognite will be integrated into Schneider Electric's industrial software subsidiary AVEVA and consolidated within its Industrial Automation business.
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