U.S. power equipment maker GE Vernova said on Thursday it had agreed to sell Proficy, its industrial software business, to asset management firm TPG for $600 million as part of cost-cutting measures.
The company had said in its first-quarter earnings call it expected an increase in costs of $300 million to $400 million in 2025 and was actively seeking ways to offset tariff impact and inflationary pressures through pricing actions.
The transaction is expected to close in the first half of 2026.
