TPG has agreed to acquire Proficy, the industrial software division of GE Vernova, in a $600m deal that will see the business spun out as a standalone company.

The proceeds will be reinvested by GE Vernova into its grid software operations, underscoring the firm’s shift towards energy infrastructure.

Proficy, which contributes about 20% of the group’s electrification software revenue, provides manufacturers with tools to monitor and optimise production. GE Vernova’s electrification segment generated $7.55bn in 2024.

The transaction, expected to close in the first half of 2026, will be executed through TPG Capital, the firm’s US and European private equity platform. GE Vernova will retain a board observer seat and may collect additional proceeds tied to performance outcomes.

“Indirectly, we are going to reinvest the proceeds into the grid software business,” said GE Vernova CEO Scott Strazik.

The company has been contending with higher costs from tariffs and inflation, projecting an additional $300m–$400m in 2025. Alongside divestments, GE Vernova is investing $600m to upgrade its US factories to meet surging global demand for electricity.

Analysts described the sale as a move to monetise an undervalued business line and redirect capital into higher-growth segments. Shares of GE Vernova fell 3.2% following the announcement.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.