This story was originally published on MyNorthwest.com.
Boeing announced it is selling portions of its Digital Aviation Solutions business for $10.6 billion to Thoma Bravo, a private equity firm.
Part of the sale includes Boeing’s navigation unit, Jeppesen. Jeppesen offers navigational information, operations planning tools, flight planning products, and additional software. Final bids valued Jeppesen at $8 billion, much higher than Boeing’s original wanted price of $6 billion. Strong interest from potential buyers, including TPG, Advent, and Veritas, drove the valuation higher, according to The Wall Street Journal.
Boeing acquired Jeppesen for $1.5 billion in 2000. ForeFlight, AerData, and OzRunways were also included in the sale.
The sale is a part of Boeing CEO Kelly Ortberg’s plan to reduce Boeing’s debt. Boeing claimed the sale will strengthen its capital structure and allow it to focus on core operations.
One of Ortberg’s strategies is to offload certain “non-core” assets. In February, Boeing sold its maintenance operation facility at London’s Gatwick Airport to British Airways. Insitu, a company that designs, develops, produces, and operates unmanned aircraft systems, is another asset Boeing is currently trying to shed.
Approximately 3,900 employees work in Boeing’s Digital Aviation Solutions. The transaction is expected to close by the end of 2025. Boeing is set to report first-quarter results on Wednesday.
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