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Cryptopolitan 2026-06-30 21:03:42

Schneider Electric buys Cognite for $3.1 billion

The Norwegian industrial AI software company Cognite will be purchased by Schneider Electric. The $3.1 billion deal is Norway’s biggest software and AI exit to date. Aker ASA and the remaining Cognite Holding B.V. shareholders decided to sell Schneider Electric all of their shares. The terms were revealed by Aker. The deal is one of the biggest industrial software transactions ever made in Europe. In capital-intensive sectors like energy, manufacturing, and infrastructure, the need for AI-driven tools continues to rise. What Aker stands to gain The Oslo industrial investment firm, called Aker, has been the main supporter of Cognite. Aker anticipates receiving about $1.48 billion in cash from the transaction. Settlement of an outstanding convertible loan falls under this category. The payout is equivalent to about NOK 14.7 billion at a USD/NOK exchange rate of 9.92. The payout represents an increase of NOK 7.4 billion. In comparison to Aker’s reported net asset value at the end of Q1 2026, each share was worth about NOK 100. “This transaction clearly demonstrates the value created in Cognite and how Aker builds and realizes value through active, long-term ownership,” Aker stated when announcing the deal. Schneider Electric has been actively seeking data-driven infrastructure. Cryptopolitan previously reported on the company’s $2.3 billion contracts with US data center operators Switch and Digital Realty. Those agreements primarily address power and cooling systems designed for AI workloads. Schneider had previously stated that the current infrastructure was not designed to handle the energy demands of AI. Why Schneider wants Cognite Schneider already offers physical systems, but Cognite’s software platform adds data management and industrial AI. Cognite specializes in contextualizing operational data for heavy industries. Schneider offers equipment for electrical distribution, automation, and energy management in the same sectors. Buyers in the industrial sector are prepared to shell out a pretty penny for artificial intelligence software companies with a track record of success, as evidenced by the $3.1 billion price tag. This is especially true for companies in asset-heavy industries, where consumer tech lags behind the pace of digitization. Customary closing conditions and regulatory approvals are still required for the transaction. No timetable for completion has been made public. Once the deal closes and the proceeds are deployed, investors following Aker on the Oslo Stock Exchange will keep an eye out for updated NAV guidance. If you're reading this, you’re already ahead. Stay there with our newsletter .

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