Schneider Electric Buys Cognite for $3.1 Billion to Expand Industrial AI Software

3 articles · Updated · Bloomberg · Jun 30

$3.1 billion will buy Schneider Electric 100% of privately held Cognite in an all-cash deal announced Tuesday.
Schneider said the acquisition is aimed at expanding its industrial data and AI software business, deepening its push into factory and industrial digitalization.
The companies expect the transaction to close in coming quarters, leaving timing dependent on the remaining completion process.

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