Schneider Electric to Acquire Cognite for $3.1 billion
Schneider Electric announced that it will acquire all outstanding shares of Cognite, an industrial data and artificial‑intelligence software company, for a total cash consideration of $3.1 billion. The transaction will be funded entirely in cash and will see Cognite folded into Schneider’s existing industrial software unit, Aveva.
Impact on Aker ASA
Aker ASA, which helped found Cognite in 2017 and has been a long‑term backer, will sell its entire stake as part of the deal. Aker expects to receive roughly $1.48 billion in cash proceeds, a figure that includes the settlement of an outstanding convertible loan. Following the announcement, Aker’s shares rose about 7 % (reported as a 5.57 % increase) in trading.
Market Reaction to Schneider
In Paris trading, Schneider Electric’s shares slipped as much as 2.6 % by 07:42 GMT, reflecting a modest negative reaction to the cash outlay despite the strategic rationale.
Strategic Rationale
The acquisition underscores the accelerating push among industrial firms to embed AI into factory operations. Schneider, traditionally known for energy‑management equipment, has been expanding its footprint into power and cooling infrastructure for data centres that support the global AI build‑out. By adding Cognite’s software capabilities, Schneider aims to strengthen its position in the industrial software layer, complementing rivals such as Siemens, which are also expanding into automation and AI tools for the shop floor.
Transaction Details
Schneider will purchase all of Cognite’s outstanding shares from Aker and other investors. The deal is structured as a cash transaction, with no mention of earn‑outs or contingent payments. Post‑acquisition, Cognite will become part of Aveva, allowing Schneider to integrate the AI and data analytics capabilities into its broader industrial software portfolio.