Boeing announced on Tuesday, the sale of part of its Aviation Solutions digital division, including Jeppesen, Foreflight, Aerdata and Ozrunways platforms, for Investment Company Thoma Bravo. The agreement, worth US $ 10.55 billion in cash, aims to reinforce the manufacturer’s capital structure and allow greater focus on its main business, according to a statement issued by the company.
Despite the sale, Boeing will maintain essential digital capabilities for fleet maintenance and diagnosis services, both in the commercial and defense sector. “This transaction is an important component of our strategy for prioritizing essential business, strengthening the balance and maintaining the ‘investment grid’,” said Kelly Ortberg, president and CEO of Boeing.
About 3,900 employees will be impacted by the transaction, which must be completed by the end of 2025, subject to regulatory approvals.
Boeing has said it will work to ensure a soft transition to both employees and customers. Chris Raymond, president of Boeing Global Services, stressed that the commitment to customers “remains unshakable.”
Citi advised Boeing in the business, while Thoma Bravo was guided by Kirkland & Ellis.
At 10:50 am (Brasília), Boeing’s action climbed 1.04% in New York.
