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Proficy software technology portfolio solves some of the toughest challenges in manufacturing, infrastructure, and other industries Agreed to sell its industrial software business proficy to alternative asset management firm tpg for $600 million. Ge vernova retains its electrification software business focused on developing solutions to help customers electrify and decarbonize the energy ecosystem.
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. Deal expected to close in 2026. Tpg to acquire ge vernova’s proficy manufacturing software biz for $600m headquartered in cambridge, massachusetts, vernova is an energy company.
Proficy currently accounts for about 20% of ge vernova’s electrification software revenue, which more than doubled to $332 million in the second quarter from a year ago
Ge vernova announced on thursday that it would sell its proficy industrial software unit to tpg, a private equity firm for $600,000,000 and reinvest those proceeds into grid software Revenue from electrification software in 2024 will be $7.55.
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