Boeing to sell elements of digital aviation solutions business for $10.55 billion

Aerospace giant Boeing today announced an agreement to sell off parts of its digital aviation solutions business to the software-focused private equity firm Thoma Bravo for $10.55 billion.

The all-cash transaction includes digital tools that pilots and maintainers often use to manage checklists, engage with briefings or navigation and conduct other necessary flight-planning steps. The assets being sold to Thoma Bravo include Jeppesen, ForeFlight, AerData and OzRunways.

If approved by regulators, the deal could close by the end of 2025.

The agreement “includes principles for data sharing and future collaborations to ensure continuity of operations under Thoma Bravo's ownership,” the company wrote in the release.

“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,” it continued. “This digital expertise will continue to provide predictive and prognostic maintenance insights.”

In October, Boeing CEO Kelly Ortberg said the company would begin taking steps to pivot back to its former success after booking significant losses year after year in its defense unit.

“We need to continue to focus on reducing non-essential activity,” Ortberg told investors at the time.

Although Boeing has deemed its defense business as essential, the company is still eyeing areas it could potentially cut corners. Today’s agreement is a start, Ortberg 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,” he said in a statement.