GE Vernova to sell Proficy software unit to TPG for $600 million

Core Viewpoint - GE Vernova has agreed to sell its industrial software business Proficy to TPG for $600 million as part of its cost-cutting strategy, with the deal expected to close in the first half of 2026 [1][3]. Group 1: Financial Impact - The sale of Proficy, which accounts for approximately 20% of GE Vernova's electrification software revenue, comes as the company's electrification software revenue more than doubled to $332 million in Q2 compared to the previous year [1]. - GE Vernova anticipates a cost increase of $300 million to $400 million in 2025, and is looking to mitigate these costs through pricing adjustments [2]. Group 2: Strategic Moves - The Proficy deal will allow it to operate as a standalone software business, with TPG managing the business while GE Vernova retains a board observer seat [3]. - GE Vernova is also investing $600 million in U.S. factories over the next two years to strengthen its supply chain and meet rising global electricity demand [2].