Boeing has signed a definitive agreement to sell parts of its Digital Aviation Solutions business unit, including Jeppesen assets, ForeFlight, AirData and OzRunways, a Thoma Bravo. photo boeing
This transaction is valued in US$ 10.550 millions, but Boeing will retain key digital capabilities that leverage specific aircraft and fleet data to provide commercial and defense customers with maintenance services, diagnosis and repair. This digital experience will continue to provide predictive and prognostic information on maintenance.
“This transaction is an important component of our strategy to focus on core businesses, strengthen the balance sheet and prioritize investment grade credit rating”, said Kelly Ortberg., President and CEO of Boeing.
“This allows all parts of the digital portfolio to focus on their strengths”, Chris Raymond said, President and CEO of Boeing Global Services. “Our commitment to meeting our customers' needs remains steadfast as we move forward with our core products and services to support their fleets.”
“We are proud to invest in such an important technological platform within the aerospace and defense sector”, commented Holden Spaht, Managing Partner of Thoma Bravo. “With a history that dates back to the decade of 1930, Jeppesen has been at the forefront of technological innovation for almost a century. “We are excited to continue this legacy and drive its next phase of growth.”
“The business has undergone an impressive transformation in recent years and maintains solid momentum”, Scott Crabill added., also Managing Partner of Thoma Bravo. “Thoma Bravo has a long history of supporting leading technology companies along with their current management teams.. We look forward to supporting the company's independent growth objectives through strategic investments, good operational practices and a shared commitment to innovation and long-term value creation.”
About 3.900 employees around the world are part of the Digital Aviation Solutions organization of Boeing, which includes both the units that will remain in Boeing like those included in the sale. Boeing is working with Thoma Bravo to ensure the smoothest possible transition for employees, while continuing to serve customers in accordance with all obligations.
The transaction is expected to close before completion 2025, subject to regulatory approval and other customary closing conditions.
Citi acts as exclusive financial advisor to Boeing, and Mayer Brown LLP as outside legal counsel. Kirkland & Ellis LLP is legal counsel to Thoma Bravo.
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