The companies said that upon the successful completion of the proposed transaction, TPG would own and control the Proficy business, and GE Vernova would retain a board observer seat.
GE Vernova (GEV) and TPG announced on Thursday that the global alternative asset management firm will acquire GE Vernova’s Proficy manufacturing software business for $600 million. GE Vernova may receive additional sale proceeds in the future, depending on various outcomes and conditions.
Shares of GE Vernova were down over 2% in early trading. The retail user message count on the stock increased 79% in the last 24 hours on Stocktwits.
TPG said it will invest in Proficy through TPG Capital, the firm’s U.S. and European private equity platform. The proposed transaction would establish Proficy as a standalone software business that helps its more than 20,000 customers
Retail sentiment on GE Vernova remained unchanged in the ‘bearish’ territory, with message volumes at ‘high’ levels, according to data from Stocktwits.
TPG said that within this partnership, Proficy would continue to deliver enhanced and expanded offerings that meet the needs of teams across the broader manufacturing and infrastructure sectors. This manufacturing software business currently accounts for approximately 20% of GE Vernova’s Electrification Software revenues.
“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,” said Scott Strazik, CEO of GE Vernova.
The companies said that upon the successful completion of the proposed transaction, TPG would own and control the Proficy business, and GE Vernova would retain a board observer seat. The proposed transaction is expected to close in the first half of 2026.
Shares of GE Vernova have gained over 91% this year and have jumped nearly 193% in the last 12 months.
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