CHICAGO (dpa-AFX) - Aerospace giant Boeing Co. (BA) announced Tuesday that it has entered into a definitive agreement to sell portions of its Digital Aviation Solutions business to software investment firm Thoma Bravo in an all-cash transaction valued at $10.55 billion.
The Digital Aviation Solutions business includes Boeing's Jeppesen, ForeFlight, AerData and OzRunways assets.
The agreement includes principles for data sharing and future collaborations to ensure continuity of operations under Thoma Bravo's ownership.
The sale strengthens Boeing's capital structure and allows the company to focus on its core business, including key continued technical operations.
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.
Boeing's Digital Aviation Solutions business has approximately 3,900 employees around the globe. Boeing is working with Thoma Bravo to help ensure as seamless of a transition as possible for employees.
The transaction is expected to close by the end of 2025 and is subject to regulatory approval and customary closing conditions.
'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,' said Kelly Ortberg, Boeing president and chief executive officer.
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