Schneider Electric to Acquire Cognite for $3.1 Billion

Schneider Electric announced on June 30 that it had signed a definitive agreement to acquire Cognite in an all-cash transaction valued at $3.1 billion. Cognite, founded in 2017 and headquartered in Tempe, Arizona, supplies an Agentic AI Data Platform used on factory floors. The company reported revenue exceeding $170 million in 2025, making the purchase price equal to 18.2 times annual revenue.

Chemical manufacturer Celanese implemented the Cognite platform to detect equipment anomalies and improve safety, quality, and production. The system contextualizes data from multiple sources and uses generative AI to create user interfaces and workflows.

Celanese reported a 15 percent increase in effective preventative maintenance after deployment. The company noted that the interface sometimes produced incorrect outputs and said it planned to address the issue.

Rishi said each extra day a large plant remains operational can generate $11 million in revenue. He stated that contextualized data reduces hallucinations in AI responses and that knowledge graphs help identify root causes of equipment problems. The company’s annual recurring revenue bookings grew 36 percent in the period before the announcement.

Schneider Electric said the acquisition would expand access to Cognite’s technology among its existing customer base.