Boeing announced that it entered a definitive agreement to sell portions of its Digital Aviation Solutions business, including its Jeppesen, ForeFlight, AerData and OzRunways assets, to software investment firm Thoma Bravo. This all-cash transaction is valued at $10.55 billion.
Boeing will retain core digital capabilities that harness both aircraft and fleet-specific data to provide commercial and defense customers with fleet maintenance, diagnostics and repair services. This digital expertise will continue to provide predictive and prognostic maintenance insights.
“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,” Boeing President and CEO Kelly Ortberg said.
Approximately 3,900 employees around the globe work in Boeing’s Digital Aviation Solutions organization, which includes elements of the business remaining within Boeing and those included in the sale.
Boeing said it would work 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 the year and is subject to regulatory approval.