Schneider Electric Agrees to Buy Industrial AI Firm Cognite for $3.1 Billion on June 30

According to Bloomberg, Schneider Electric agreed on June 30 to acquire Norway-based industrial software company Cognite for $3.1 billion in cash. Schneider will combine Cognite with AVEVA, its industrial software business wholly owned since 2023. Cognite operates an industrial data and AI platform used by energy, manufacturing, power, and renewable companies; its customers include bp, Saudi Aramco, Alfa Laval, and Mitsubishi. The acquisition is expected to close in the coming quarters. Aker ASA, a Norway-based investor that helped establish Cognite in 2017, expects approximately $1.48 billion in cash proceeds from the sale.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments