GE Vernova finalises $600 M proficy sale
TPG takes ownership of Proficy software business, serving 20,000 customers across manufacturing and infrastructure sectors.
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USA, Massachusetts, Cambridge: GE Vernova Inc. has confirmed the completion of the previously announced sale of its Proficy® software business to TPG, a global alternative asset management firm, for $600 M.
The deal establishes Proficy as a standalone software company supporting more than 20,000 customers across discrete, process and hybrid manufacturing, as well as metro transit and other infrastructure applications. Its integrated portfolio includes cloud-based and on-premises HMI/SCADA, MES, industrial data management and analytics solutions, offering flexibility from individual equipment and production lines to full plant and enterprise operations.
With the transaction now closed, TPG has full ownership and control of the Proficy business. GE Vernova will continue to concentrate on delivering software designed to help customers electrify and decarbonise the energy ecosystem. Central to this strategy is GridOS®, its enterprise software and AI platform focused on grid orchestration.
This announcement contains forward-looking statements relating to future events, which are inherently uncertain. Words such as “expect”, “anticipate”, “intend”, “plan”, “will”, “estimate”, “believe”, “project” and similar expressions indicate such statements. These include expectations about the future operations of GE Vernova and the independent Proficy business. Actual results may differ due to risks and uncertainties outlined in GE Vernova’s filings with the US Securities and Exchange Commission, including its latest Form 10-K and subsequent filings. GE Vernova undertakes no obligation to update these statements unless required by law.
Source: GE Vernova
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