Schneider Electric SE announced that sales grew at the quickest pace in five years and lifted its earnings guidance again, citing strong demand from the data‑center market.
Schneider Electric SE, a French multinational industrial software and automation company, has agreed to acquire Cognite, an industrial artificial intelligence software firm, in a transaction valued at $3.1 billion. The acquisition is intended to strengthen Schneider Electric’s capabilities in industrial data management and AI-powered software solutions.
Schneider Electric SE is issuing €800 million of debt as it capitalizes on strong market momentum from its growing involvement in the data center support business, particularly driven by increased demand related to AI infrastructure.