Boeing is selling a portion of its aviation software business units to private equity software firm Thoma Bravo for $10.55 billion, the company announced Tuesday morning.
The businesses in the deal include Jeppesen, ForeFlight, AerData and OzRunways, covering their assets, software and applications that service Boeing’s commercial and defense customers, according to the press release.
The deal is expected to close by year’s end. The pending agreement will allow Boeing to retain core digital capabilities that control aircraft and fleet-specific forecast data on maintenance, diagnostics and repair services, the company said.
Approximately 3,900 employees work in Boeing’s digital aviation solutions unit, and the company said a portion of workers will remain with the company, while another portion will fall under Thoma Brava. The aircraft maker said it is working with Thoma Bravo to ensure a smooth transition for all impacted employees, but did not disclosed how many will stay with Boeing.
Boeing’s divestiture is part of the company’s plan to streamline its portfolio in areas that are not “core” to the aircraft manufacturer’s operations, as it works to improve its finances after losing approximately $12 billion last year.
The company is also working to finalize its $4.7 billion acquisition of supplier Spirit AeroSystems, which is also facing financial issues after reporting a $2.1 billion loss in 2024.
Boeing and Spirit AeroSystems were hit hard last year after the Alaska Airlines 737-9 Max plane door plug blowout incident. Boeing spent billions fixing its manufacturing and safety quality issues at its Washington and Oregon facilities and Spirit AeroSystems’s plant in Wichita, Kansas.
The two companies also dealt with a financial blow from Boeing’s 53-day workers strike, which halted operations and cost tens of millions of dollars per day in lost productivity.
President and CEO Kelly Ortberg told senators at a hearing earlier this month that Boeing is spending a “significant amount” of its capital to acquire Spirit AeroSystems.
“I’m very hopeful that once we get the acquisition closed, we’ll find opportunities to do actually even more work,” Ortberg said about the Wichita plant.
