Boeing has entered into a definitive agreement to sell parts of its Digital Aviation Solutions business, including Jeppesen, ForeFlight, AerData and OzRunways, to Thoma Bravo for $10.55 billion in cash.

Boeing will keep its core digital capabilities that combine aircraft and fleet data for fleet maintenance, diagnostics and repair, continuing to deliver predictive maintenance insights to commercial and defence customers.

Boeing president and chief executive officer Kelly Ortberg says: “This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritise the investment grade credit rating.”

Chris Raymond, president and chief executive officer of Boeing Global Services, adds: “This enables all parts of the digital portfolio to focus on their strengths. Our commitment to meeting our customers' needs is unwavering as we move forward with our core products and services to support their fleets.”

Holden Spaht, managing partner at Thoma Bravo, says: “We are proud to be investing in such an important technology platform in the broader aerospace and defence industry. With a heritage dating back to the 1930s, Jeppesen has been at the forefront of technological innovation for nearly a century. We are excited to build on this track record and power its next phase of growth.”

Scott Crabill, managing partner at Thoma Bravo, says: “The business has been through an impressive growth transformation in recent years and has strong momentum. Thoma Bravo has a long track record of backing leading technology companies in partnership with existing management. We look forward to supporting the company's standalone growth objectives through strategic investments, operational best practices and a shared commitment to innovation and long-term value creation.”

Around 3,900 employees work in Boeing’s Digital Aviation Solutions organisation, including those remaining with Boeing and those joining Thoma Bravo. Boeing is working with Thoma Bravo to ensure a seamless transition while continuing to meet customer needs.

The transaction is expected to close by the end of 2025, subject to regulatory approval and customary conditions. Citi is acting as Boeing's exclusive financial advisor and Mayer Brown LLP as outside counsel, while Kirkland & Ellis LLP is acting as legal counsel to Thoma Bravo.