TPG to acquire GE Vernova‘s Proficy Software for $600 Million
Private equity firm TPG has reached an agreement to acquire Proficy, the industrial software division of GE Vernova, in a $600 million deal. The transaction will establish Proficy as an autonomous company, backed by TPG Capital, the firm’s US and European private equity platform. The deal is anticipated to finalize in the first half of 2026.
The sale allows GE Vernova to refocus investment on its grid software operations and address rising costs related to tariffs and inflation. Proceeds from the sale will be reinvested into the grid software business, according to GE Vernova CEO Scott Strazik, who stated, “Indirectly, we are going to reinvest the proceeds into the grid software business.”
Proficy provides manufacturing tools for production monitoring and optimization, contributing approximately 20% to GE Vernova’s $7.55 billion in electrification software revenue generated in 2024.GE Vernova will maintain a board observer seat and is eligible for additional payments based on Proficy’s future performance.
Analysts view the divestiture as a strategic move to unlock value from an underperforming asset and allocate capital to areas with higher growth potential.Following the announcement,GE Vernova shares experienced a 3.2% decline. The company projects an additional $300 million to $400 million in costs in 2025 and is together investing $600 million in upgrading its US factories to meet increasing global demand for electricity.
