Boeing has announced a definitive agreement to divest key segments of its Digital Aviation Solutions unit.
The $10.55 billion all-cash deal will see Thoma Bravo, a software investment firm, acquire assets including Jeppesen, ForeFlight, AerData, and OzRunways.
Despite the sale, Boeing will maintain core digital capabilities that leverage aircraft and fleet-specific data to support commercial and defence operations.
These retained functions will continue to deliver advanced predictive and prognostic maintenance solutions, supporting diagnostics and repair services.
Kelly Ortberg, Boeing’s president and chief executive, said: “This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritize the investment grade credit rating.”
Chris Raymond, president and chief executive of Boeing Global Services, said: “This enables all parts of the digital portfolio to focus on their strengths. Our commitment to meeting our customers’ needs is unwavering as we move forward with our core products and services to support their fleets.”
Holden Spaht, a managing partner at Thoma Bravo, 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.”
Scott Crabill, a managing partner at Thoma Bravo, said: “The business has been through an impressive growth transformation in recent years and has strong momentum. Thoma Bravo has a long track record of backing leading technology companies in partnership with existing management. We look forward to supporting the company’s standalone growth objectives through strategic investments, operational best practices and a shared commitment to innovation and long-term value creation.”
Approximately 3,900 employees around the globe work in Boeing’s Digital Aviation Solutions organisation, which includes elements of the business remaining within Boeing and those included in the sale.
Boeing says it is working with Thoma Bravo to help ensure as seamless of a transition as possible for employees while continuing to meet the needs of customers in accordance with all obligations.
The transaction is expected to close by the end of 2025 and is subject to regulatory approval and customary closing conditions.
Citi is acting as exclusive financial advisor to Boeing, and Mayer Brown LLP is acting as outside counsel. Kirkland & Ellis LLP is acting as legal counsel to Thoma Bravo.
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