Thoma Bravo agreed to acquire a major portion of Boeing’s Digital Aviation Solutions business in an all-cash transaction valued at $10.55bn. 

The deal includes Jeppesen, ForeFlight, AerData, and OzRunways, and marks one of the largest software-focused carve-outs in the aerospace sector to date.

The transaction is expected to close by year-end, pending regulatory approval, and will see the acquired assets transition into a standalone platform under Thoma Bravo’s ownership. Boeing will retain key digital services related to fleet diagnostics and predictive maintenance while entering into data-sharing agreements to ensure continuity across client operations.

“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,” said Boeing CEO Kelly Ortberg.

With $179bn in assets under management, Thoma Bravo is one of the world’s most active software-focused private equity firms. Managing Partner Holden Spaht called the investment “an exciting opportunity to back a critical technology platform in the global aerospace and defence ecosystem.”

Scott Crabill, Managing Partner at Thoma Bravo, added, “We look forward to supporting the company’s standalone growth objectives through strategic investments, operational best practices, and a shared commitment to long-term value creation.”

Approximately 3,900 employees are expected to transition with the divested units, and Boeing is working closely with Thoma Bravo to ensure a seamless integration.

Citi acted as exclusive financial advisor to Boeing, while Mayer Brown LLP and Kirkland & Ellis LLP served as legal counsel to Boeing and Thoma Bravo, respectively.

Source: Thoma Bravo