USA, Massachusetts, Cambridge: GE Vernova has agreed to sell its Proficy manufacturing software business to global investment firm TPG for $600 M. The deal, announced on 11 September, is expected to close in the first half of next year.
Proficy provides manufacturing and operations software to more than 20,000 customers worldwide, generating nearly $200 M in revenue. It represents about 20 % of GE Vernova’s electrification software sales.
Speaking at Morgan Stanley’s 13th Annual Laguna Conference, GE Vernova President and CEO Scott Strazik said the sale will allow the company to sharpen its focus on grid software and energy-related applications.
The move follows GE Vernova’s summer acquisition of French firm Alteia SAS, which specialises in visual data and artificial intelligence tools for utility grid operations. Strazik emphasised that expanding the company’s GridOS portfolio is central to its strategy.
He noted that energy customers face increasing complexity from distributed energy resources, renewables integration, and grid stability challenges. “Our customers are craving a more holistic solution for grid software,” Strazik said, highlighting the need for platforms that replace fragmented, homegrown systems.
Following the announcement, GE Vernova shares (GEV) dipped about 1 % to $636, though the stock has more than doubled in the past six months, lifting the company’s market value above $170 B.
Source: GE Vernova
