Boeing has reached a definitive agreement to sell parts of its Digital Aviation Solutions business to software investment firm Thoma Bravo in a transaction valued at $10.55bn.
The sale encompasses assets including Jeppesen, ForeFlight, AerData, and OzRunways.
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Boeing said it will retain “core digital capabilities” which leverage both aircraft- and fleet-specific data to deliver fleet maintenance, diagnostics, and repair services to its commercial and defence customers.
This retained digital expertise will continue to provide predictive and prognostic maintenance insights.
Boeing president and CEO Kelly Ortberg said: “This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritise the investment grade credit rating.”
The Digital Aviation Solutions organisation employs approximately 3,900 individuals globally, across segments of the business that will remain with Boeing and those included in the sale.
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By GlobalDataBoeing is collaborating with Thoma Bravo to facilitate a smooth transition for employees while ensuring that customer needs are met in accordance with existing obligations, the companies said.
Thoma Bravo managing partner Holden Spaht said: “We are proud to be investing in such an important technology platform in the broader aerospace and defence industry.
“With a heritage dating back to the 1930s, Jeppesen has been at the forefront of technological innovation for nearly a century. We are excited to build on this track record and power its next phase of growth.”
The transaction is anticipated to close by the end of 2025, pending regulatory approval and customary closing conditions.
Citi is serving as the exclusive financial advisor to Boeing, while Mayer Brown is acting as outside counsel. Kirkland & Ellis is providing legal counsel to Thoma Bravo.
Recently, the Chinese government instructed its airlines to stop the delivery and purchase of Boeing jets and US-made aircraft parts, marking the latest escalation in the ongoing trade war between Washington and Beijing.
