Boeing sells digital aviation unit to Thoma Bravo for US$10.6b
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The news: Boeing has agreed to sell portions of its Digital Aviation Solutions business—including Jeppesen, ForeFlight, AerData and OzRunways—to private equity firm Thoma Bravo for USD10.55 billion in cash.
The context: The transaction is part of CEO Kelly Ortberg’s plan to “focus on core businesses, supplement the balance sheet and prioritise the investment grade credit rating,” she said in a statement.
Jeppesen, which provides navigation products and software, was acquired by Boeing in 2000 for USD1.5 billion and was among the most valuable assets the company sought to shed as part of efforts to bolster its financial position.
The deal attracted interest from private equity firms and aerospace suppliers, with Thoma Bravo edging out rivals including Advent and Veritas, according to reports.
The numbers: The deal includes about 3,900 employees and is expected to close by the end of 2025, the company said.
Jefferies analysts said the inclusion of more assets than expected helped push the valuation above initial estimates of USD6 billion to USD8 billion.
Boeing will retain “core digital capabilities” used for “fleet maintenance, diagnostics and repair services.”
