TPG acquiring GE Vernova’s Proficy software business

GE Vernova Inc. and alternative asset management firm TPG reported Sept. 11 that TPG will acquire GE Vernova’s Proficy manufacturing software business for $600 million.

Expected to close in the first half of 2026, the proposed transaction would establish Proficy as a standalone software business, which would continue to helps its more than 20,000 customers manage complexity, enable greater efficiency, and improve connectivity across their industrial operations. This manufacturing software business presently makes up approximately 20% of GE Vernova’s electrification software revenues.

Once the purchase is completed, TPG would own and control the Proficy business, but GE Vernova would still retain a board seat as an observer. The deal also depends on consulting with employee representatives and other conditions, including regulatory approvals. GE Vernova may also receive additional sale proceeds in the future, depending on various outcomes and conditions. TPG plans to invest in Proficy through TPG Capital, the firm’s U.S. and European private equity division.

“We’re 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,” says Scott Strazik, CEO of GE Vernova. “The Proficy portfolio provides critical tools for manufacturing and production customers worldwide, and I’m confident TPG will help this business continue to grow and meet industry’s expanding. GE Vernova remains focused on delivering solutions to help customers electrify and decarbonize 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 portfolio solves industrial challenges across discrete, process and hybrid manufacturing, as well as metropolitan transit and other infrastructure applications. Its integrated solutions include cloud-based and onsite HMI/SCADA, MES, industrial data management and analytics, offering architectural flexibility from equipment to production lines, plants and entire enterprises. In partnership with TPG, Proficy would continue to deliver enhanced and expanded offerings that meet the evolving needs of teams in manufacturing and infrastructure sectors.

“Manufacturing is undergoing a renaissance driven by customers’ need to increase throughput, optimize operations, and augment workforces,” says Art Heidrich, partner at TPG. “Proficy’s mission-critical, integrated and increasingly AI-enabled solutions are leading the way, enabling customers to run, monitor and improve production processes. We’re excited to partner with GE Vernova and Proficy’s leadership team to accelerate growth, and power customers’ digital evolutions.”