Boeing is to bolster its balance sheet with the $10.5 billion all-cash sale of parts of its digital aviation solutions business – including the Jeppesen and ForeFlight brands – to software investment firm Thoma Bravo.
Rumours had been rife for some time that the airframer was looking to shed elements of its digital services operation as a cash-generation measure.
Boeing says the deal, covered by a “definitive agreement” with Thoma Bravo, is expected to close by the end of 2025, subject to regulatory approval.
Crucially, the company will retain the parts of its digital operation that use aircraft- and fleet-specific date to provide customers with fleet maintenance, diagnostics and predictive maintenance services.
“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,” says Kelly Ortberg, Boeing chief executive.
Included in the sale are the Jeppesen, ForeFlight, AerData and OzRunways brands.
