GE Vernova to sell industrial software unit to TPG for $600 million
GE Vernova said on Thursday it will sell its Proficy industrial software unit to private equity firm TPG for $600 million and reinvest the proceeds in grid software. Proficy, which accounts for about 20% of GE Vernova’s electrification software revenue, helps manufacturers monitor and optimise production. Electrification segment revenue in 2024 was $7.55 billion.
The company, spun off from GE last year, has been working to offset rising costs tied to tariffs and inflation. In April, it forecast a $300 million to $400 million increase in costs in 2025 and said it planned to raise prices and streamline operations to protect margins.
