Schneider Electric to buy industrial-AI platform Cognite for $3.1B

Schneider Electric agreed on June 30 to acquire Cognite, the Oslo-based industrial data and AI platform spun out of Aker, for $3.1B — about 2× its last private mark of $1.5B. Cognite's revenue is not disclosed; it was ~$170M in 2021 and we estimate roughly $250M of ARR at the deal, implying ~12× (Lounge estimate).

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