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

(Reuters) - U.S. power equipment maker GE Vernova said on Thursday it agreed to sell Proficy, its industrial software business, to asset management firm TPG for $600 million as part of cost-cutting measures. Shares of the company rose 1.2% to $651 in premarket trade. 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. In April, GE Vernova said on its first-quarter call it expects a $300 ...