Talking with colleague David Greenfield of Automation World at the very successful Inductive Automation ICC 2025 event about what happened to main competitors. There once was Wonderware (a pioneer) who eventually wound up under AVEVA. Then there was GE (Fanuc/Intelligent Platforms/Digital/Vernova) home of their Cimplicity and Intellution’s iFix which sort of blended into Proficy.
David tapped my shoulder. He had an email where the person wanted to discuss the future for iFix and Cimplicity. I turned around, checked my email, and had an invitation to sponsor an AVEVA one-day conference in Houston. How about that for synchronicity? A bit later I saw that GE Vernova has sold the HMI/SCADA/MES business (Proficy) to an investment firm, TPG. No wonder they sent an email to assure people about the future of their products.
I’ve pasted some of the press release below. I’m not surprised that Vernova is divesting this business. I am amazed that they are getting $600 million for it. That’s a lot of money for software that hasn’t made much of a splash in the market for several years. (When I was bouncing from one entrepreneurial start up to another in the 80s and 90s, why didn’t one of us get something akin to that size of a bail out?)
Oh, and, no, I’m not sponsoring the AVEVA Energy Day in Houston next month. Hint: they should sponsor me 😉
Bullet points in brief:
- Transaction will establish manufacturing software business as leading independent industrial technology solutions provider.
- Proficy software technology portfolio solves some of the toughest challenges in manufacturing, infrastructure, and other industries.
- GE Vernova retains its Electrification Software business focused on developing solutions to help customers electrify and decarbonize the energy ecosystem.
Note: there is much of the usual PR fluff in this release:
GE Vernova Inc. (NYSE: GEV) and TPG, a leading global alternative asset management firm, announced today the signing of a binding agreement confirming the intent under which TPG will acquire GE Vernova’s Proficy® manufacturing software business (“Proficy”) for $600 million. GE Vernova may receive additional sale proceeds in the future depending on various outcomes and conditions. TPG will invest in Proficy through TPG Capital, the firm’s U.S. and European private equity platform.
The proposed transaction would establish Proficy as a standalone software business that helps its more than 20,000 customers manage complexity, enable greater efficiency, and improve connectivity across their industrial operations. Proficy’s software portfolio solves industrial challenges across discrete, process, and hybrid manufacturing, as well as metro transit and other infrastructure applications. Its fully integrated solutions include cloud-based and on-prem HMI/SCADA, MES, industrial data management, and analytics, offering architectural flexibility from equipment to the production line, plant, and full enterprise. In partnership with TPG, Proficy would continue to deliver enhanced and expanded offerings that meet the evolving needs of teams across the broader manufacturing and infrastructure sectors. This manufacturing software business currently comprises approximately 20% of GE Vernova’s Electrification Software revenues.
“We are excited to reach this agreement with TPG to position the Proficy business for independent success, while also generating significant proceeds for GE Vernova to reinvest in our core businesses,” said Scott Strazik, CEO of GE Vernova. “The Proficy portfolio provides critical tools for manufacturing and production customers around the world, and I’m confident that TPG will help this important business continue to grow and meet the expanding needs of the industry. GE Vernova remains focused on delivering solutions to help customers electrify and decarbonize the energy ecosystem, including growing GridOS®, our enterprise software and AI platform for grid orchestration. We recently expanded GridOS through our acquisition of Alteia, an AI computer vision and machine learning company, as we continue to position that business for the future.”
“Manufacturing is undergoing a renaissance driven by customers’ need to increase throughput, optimize operations, and augment workforces. Proficy’s mission-critical, integrated, and increasingly AI-enabled solutions are leading the way, enabling customers to run, monitor, and improve the production process,” said Art Heidrich, Partner at TPG. “We are excited to partner with GE Vernova and Proficy’s leadership team to accelerate growth and power customers’ digital evolutions.”
TPG has deep experience executing corporate carveouts to support and grow innovative software businesses, with investments that have included Boomi, Elite, Everfox, Hospitality Solutions, McAfee, and Wind River.
Upon the successful completion of the proposed transaction, TPG would own and control the Proficy business and GE Vernova would retain a board observer seat. The proposed transaction is subject to information and consultation with employee representatives and other customary closing conditions, including certain regulatory approvals, and is expected to close in the first half of 2026.
Evercore and Morgan Stanley & Co. LLC are serving as financial advisors to GE Vernova. Centerview Partners LLC is serving as lead financial advisor to TPG, and William Blair is also serving as financial advisor to TPG.
