Boeing has announced the sale of parts of its Digital Aviation Solutions business to Thoma Bravo for $10.55 billion. This decision follows a leadership change and is part of Boeing's strategy to streamline its operations and focus on its core business.

The transaction, confirmed on April 22, includes key assets such as Jeppesen, ForeFlight, AerData, and OzRunways. Despite this divestiture, Boeing will retain essential digital capabilities that utilize aircraft and fleet-specific data to continue offering maintenance and diagnostic services to both commercial and defense customers.

Boeing's CEO, Kelly Ortberg, emphasized that the sale aligns with the company's goal to enhance its balance sheet and maintain an investment-grade credit rating. Chris Raymond, President and CEO of Boeing Global Services, noted that this move allows the digital portfolio to concentrate on its strengths while ensuring customer needs are met.

Thoma Bravo's Managing Partner, Holden Spaht, expressed pride in acquiring a significant technology platform in aerospace, highlighting Jeppesen's long-standing history of innovation since the 1930s. The deal is expected to close in late 2025, with approximately 3,900 employees from Boeing's Digital Aviation Solutions likely transitioning to Thoma Bravo.

Boeing's financial performance has faced challenges, ending 2024 with a net loss of $11.8 billion, largely due to ongoing issues with the 737 MAX program and a machinist strike. However, the company reported cash and cash equivalents of $13.8 billion at the year's end.

During a recent earnings call, Ortberg indicated that the portfolio review was complete, and the company is now analyzing its structure without planning a major restructuring. CFO Brian West reiterated that the focus is on simplifying operations and identifying non-core areas for potential divestiture.

With a new CEO at the helm, Boeing is taking a fresh approach to its business strategy, aiming for clarity and efficiency in its operations.