GE Vernova explores sale of Proficy software unit, Bloomberg News reports
June 27 (Reuters) - U.S. power equipment maker GE Vernova GEV.N is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter.
Following its independence last year after a three-way split of General Electric GE.N, GE Vernova is benefiting from surging domestic power demand.
This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses.
The asset could be sold for between $900 million and $1 billion, the report said.
The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg.
GE Vernova declined to comment.
Related Articles
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
USD Dollar Trend Forecast: Dollar Index Falls Below 97.0 to 4-Year Low, Will the Dollar Continue To Fall or Bottom Out in 2026?
TradingKey - In January 2026, the US Dollar Index continued its downward trend from 2025, officially breaking below the key 97.0 level and reaching a low of 95.5, marking a nearly four-year low since February 2022.
