GE Vernova has entered into a binding agreement to divest its Proficy manufacturing software business to alternative asset management company TPG for $600m.
The deal may also yield further proceeds for GE Vernova based on future outcomes and conditions.
TPG plans to invest in Proficy through its US and European private equity platform, TPG Capital.
Proficy, which currently accounts for about 20% of GE Vernova's Electrification Software revenues, will become a standalone entity focused on software solutions.
With more than 20,000 customers, Proficy's integrated solutions aim to enhance efficiency and connectivity across industrial operations.
The completion of the transaction is contingent upon consultations with employee representatives, regulatory approvals, and other standard closing conditions.
Post-transaction, TPG will assume ownership and control of Proficy while GE Vernova will maintain a board observer seat.
The deal is anticipated to close in the first half (H1) of 2026.
GE Vernova CEO Scott Strazik said: “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.
“GE Vernova remains focused on delivering solutions to help customers electrify and decarbonise the energy ecosystem, including growing GridOS, our enterprise software and AI platform for grid orchestration.
"We recently expanded GridOS through our acquisition of Alteia, an AI computer vision and machine learning company, as we continue to position that business for the future.”
Proficy's software business addresses various industrial challenges in discrete, process, and hybrid manufacturing, in addition to metro transit and other infrastructure-related applications.
In collaboration with TPG, Proficy will continue to provide improved and expanded solutions that cater to the changing requirements of teams within the wider manufacturing and infrastructure industries.
TPG partner Art Heidrich said: “Manufacturing is undergoing a renaissance driven by customers’ need to increase throughput, optimise operations, and augment workforces.
"Proficy’s mission-critical, integrated, and increasingly AI-enabled solutions are leading the way, enabling customers to run, monitor, and improve the production process."
Evercore and Morgan Stanley & Co are acting as financial advisors to GE Vernova while Centerview Partners and William Blair are advising TPG.
This July, GE Vernova announced the acquisition of Alteia, a French software company specialising in AI-driven visual intelligence for electric grid management.
