Schneider to acquire Cognite for $3.1 billion, seizing the opportunity for the development of "AI+ industry" in Europe.

According to the Securities Times app, Schneider Electric has agreed to acquire Cognite through a $3.1 billion all-cash transaction to expand its industrial data and artificial intelligence (AI) software business. Schneider announced on Tuesday that it will acquire all shares of the private company Cognite from Norway's Aker ASA and other investors.