A merger of industrial DataOps platforms is taking shape as Schneider Electric has signed a definitive agreement to acquire Cognite.
The French group aims to close the operation “in the coming quarters.” The deal value: $3.1 billion in cash.
Cognite was valued at roughly half that amount following its last funding round (Series B), completed in 2021. It had raised $150 million then, led by the investment firm TCV.
Since then, it has pivoted toward AI by pairing its DataOps SaaS with an application-design component, today described as an “agentic workbench.” This year, it added a data-exploration tool for frontline teams.
Cognite to merge with AVEVA CONNECT
Founded in 2016, Cognite is of Norwegian origin. By the end of 2025, it relocated its headquarters to the United States. It claims about €170 million in revenue and a workforce of around 800 people. TotalEnergies is among its clients.
Cognite has recently extended Data Fusion to the supply chain, in addition to production. It has also established zero-copy connections with Snowflake and Databricks, and integrated NVIDIA’s NV-Tesseract models for anomaly detection in time-series data.
Schneider Electric will combine this offering with that of its subsidiary AVEVA, which already has its own platform for data contextualization and application development (CONNECT).
