Boeing to sell Digital Aviation units to Thoma Bravo for $10.5B
Puerto Rico-born Orlando Bravo’s firm will acquire Jeppesen, ForeFlight and other aviation assets in an all-cash deal.
Boeing has entered into a definitive agreement to sell portions of its Digital Aviation Solutions business to software investment firm Thoma Bravo in an all-cash transaction valued at $10.5 billion.
The deal includes Boeing’s Jeppesen, ForeFlight, AerData and OzRunways assets. Thoma Bravo, co-founded by Puerto Rican billionaire businessman Orlando Bravo and Carl Thoma, manages more than $179 billion in assets across its private equity and credit funds, as of Dec. 31, 2024.
As part of the transaction, Boeing will retain digital capabilities tied to aircraft and fleet-specific data used to provide commercial and defense customers with maintenance, diagnostics and repair services.
“This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritize the investment grade credit rating,” said Boeing CEO Kelly Ortberg.
Chris Raymond, CEO of Boeing Global Services, added: “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.”
Boeing’s Digital Aviation Solutions division employs approximately 3,900 people globally, including those in the units being sold and others remaining with Boeing. The company said it is working with Thoma Bravo to “help ensure as seamless of a transition as possible” for employees while continuing to meet the needs of customers.
“We’re proud to be investing in such an important technology platform in the broader aerospace and defense industry,” said Holden Spaht, a managing partner at Thoma Bravo. “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.”
“The business has been through an impressive growth transformation in recent years and has strong momentum,” added Scott Crabill, another managing partner at Thoma Bravo. “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.”
The transaction is expected to close by the end of 2025, subject to regulatory approvals and customary closing conditions.
Citi is acting as exclusive financial adviser to Boeing, with Mayer Brown LLP serving as legal counsel. Kirkland & Ellis LLP is advising Thoma Bravo.
