GE Vernova's Proficy Software Business Sold to TPG for $600M

TPG will acquire GE Vernova's Proficy manufacturing software business for $600M, with potential additional sales in the future. The deal will establish Proficy as a standalone software business, helping its 20,000 customers manage complexity and improve efficiency. TPG will invest through its private equity platform, and Proficy will continue to deliver enhanced offerings to meet evolving manufacturing and infrastructure needs.

Global alternative asset management firm TPG has agreed to acquire GE Vernova's Proficy manufacturing software business for $600 million. This transaction, which is subject to regulatory approvals and standard closing conditions, will establish Proficy as a standalone software business. The deal is expected to close in the first half of 2026.

Proficy, which currently accounts for approximately 20% of GE Vernova's Electrification Software revenues, will become a standalone entity focused on software solutions. The software business addresses various industrial challenges in discrete, process, and hybrid manufacturing, as well as metro transit and other infrastructure-related applications. With more than 20,000 customers, Proficy aims to enhance efficiency and connectivity across industrial operations.

TPG plans to invest in Proficy through its U.S. and European private equity platform, TPG Capital. The acquisition will enable Proficy to continue delivering enhanced and expanded solutions that cater to the changing requirements of teams within the manufacturing and infrastructure sectors. Upon successful completion of the transaction, TPG will own and control Proficy, while GE Vernova will retain a board observer seat.

GE Vernova CEO Scott Strazik stated, "We are excited to reach this agreement with TPG to position the Proficy business for independent success, while also generating significant proceeds for GE Vernova to reinvest in our core businesses." The proceeds from the sale will be used to support GE Vernova's core businesses, including GridOS, its enterprise software and AI platform for grid orchestration. GE Vernova recently expanded GridOS through the acquisition of Alteia, an AI computer vision and machine learning company.

The acquisition of Proficy by TPG is part of a broader trend of divestment and consolidation in the manufacturing software sector, driven by the need to adapt to evolving technologies and market demands. The deal is expected to have a positive impact on both GE Vernova and TPG, with GE Vernova benefiting from the additional capital to invest in its core businesses and TPG gaining access to a strong software platform with significant market potential.