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In a major move to solidify its foothold in the industrial artificial intelligence sector, French energy management and automation giant Schneider Electric announced Tuesday it will acquire software provider Cognite in an all-cash transaction worth $3.1 billion.
Cognite, a global frontrunner in Industrial AI, has partnered with Snowflake, the AI Data Cloud company, to introduce a strategic alliance that will enable bidirectional, zero-copy data sharing integration between the Cognite Industrial AI and Data Platform.