09:23 AM EDT, 09/11/2025 (MT Newswires) -- GE Vernova ( GEV ) and TPG (TPG) said Thursday they have signed a binding agreement under which TPG will buy GE Vernova's ( GEV ) Proficy manufacturing software business for $600 million.

GE Vernova ( GEV ) may get additional sale proceeds depending on several outcomes and conditions, the companies said.

TPG will invest in Proficy via its US and European private equity platform TPG Capital, according to the statement.

The planned deal would establish Proficy as a standalone software business, the companies said.

The deal is expected to close in H1 2026.

Shares of Ge Vernova ( GEV ) and TPG were up 1.7% and 2.3%, respectively, in recent premarket activity.