Boeing has reached a definitive agreement to sell significant parts of its Digital Aviation Solutions unit for $10.55 billion in cash to Thoma Bravo, a software investment firm. The deal includes the acquisition of 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 support both commercial and defense operations. These retained functions will continue to provide advanced predictive maintenance solutions, aiding in diagnostics and repair services.

Boeing's CEO, Kelly Ortberg, emphasized that this transaction aligns with the company's strategy to concentrate on core businesses, enhance its balance sheet, and maintain an investment-grade credit rating. Chris Raymond, president of Boeing Global Services, noted that the sale allows the digital portfolio to focus on its strengths while ensuring continued support for customer needs.

Thoma Bravo's managing partner, Holden Spaht, expressed pride in investing in a significant technology platform within the aerospace and defense sector. He highlighted Jeppesen's long history of innovation and expressed excitement about fostering its next growth phase. Scott Crabill, another managing partner at Thoma Bravo, remarked on the impressive growth transformation the business has undergone and the strong momentum it has achieved.

Boeing's Digital Aviation Solutions unit employs approximately 3,900 people globally, with some employees remaining with Boeing and others transitioning to Thoma Bravo. Boeing is collaborating with Thoma Bravo to ensure a smooth transition for employees while fulfilling customer obligations.

The transaction is anticipated to close by the end of 2025, pending regulatory approval and customary closing conditions. Citi is serving as the exclusive financial advisor to Boeing, while Mayer Brown LLP is providing outside counsel. Kirkland & Ellis LLP is acting as legal counsel for Thoma Bravo.