Boeing Completes $10.55B Sale of Digital Aviation Assets to Thoma Bravo

Boeing Finalizes Major Sale of Digital Aviation Assets to Thoma Bravo

In a significant strategic move, Boeing has officially closed the sale of key portions of its Digital Aviation Solutions business to Thoma Bravo, a prominent software investment firm. This deal reshapes parts of the digital aerospace landscape, transferring ownership of several well-established aviation software and data companies. The transaction underscores a deliberate shift in Boeing’s corporate strategy, aiming to streamline operations and fortify its financial standing by concentrating on its primary manufacturing and service divisions.

The assets included in this sale are household names within the aviation community: Jeppesen, a long-standing provider of navigational charts and flight planning services; ForeFlight and OzRunways, both popular flight planning and navigation tool developers; and AerData, which specializes in software for lease management and aircraft records. The finalization of this sale marks the culmination of an agreement first announced on April 22, 2025, and represents a major divestiture for the aerospace giant. For the industry, it signals a new chapter for these essential digital tools under the stewardship of a firm with deep expertise in software growth and development.

This transaction is not merely a line item on a balance sheet; it involves the transfer of approximately 3,900 employees and a portfolio of services critical to pilots, airlines, and leasing companies worldwide. As we break down the components of this deal, we see a clear picture of Boeing’s strategic priorities and Thoma Bravo’s ambition to expand its footprint in the specialized and resilient aerospace technology sector. The move allows both entities to play to their strengths, with Boeing focusing on building and sustaining aircraft and Thoma Bravo on scaling software enterprises.

A Strategic Pivot: Why Boeing Divested

The decision to sell these digital assets is a calculated part of Boeing’s broader Strategy to sharpen its focus on core business operations. The company has been transparent about its goals: to strengthen its capital structure, enhance its balance sheet, and maintain its investment-grade credit rating. By divesting these specialized software units, Boeing can redirect resources and leadership attention to its primary commercial, defense, and space sectors. This move is consistent with recent statements from company leadership about reducing non-essential activities, particularly following financial pressures in other divisions.

It’s crucial to understand what Boeing is keeping. The company is not exiting the digital services space entirely. Instead, it is retaining its core digital capabilities that are intrinsically linked to the aircraft it produces. This includes services that utilize aircraft and fleet-specific data to provide maintenance, diagnostics, and repair support for its commercial and defense customers. This distinction highlights a strategic choice to focus on digital services that directly complement its hardware, rather than standalone software products for the broader aviation market.

The financial implications are substantial. The all-cash transaction is valued at $10.55 billion, providing a significant infusion of capital for Boeing. This influx is instrumental in supporting the company’s financial health and providing flexibility as it navigates the complexities of the global aerospace market. The sale is one of the most significant divestitures for Boeing in recent years and serves as a clear indicator of its commitment to operational and financial discipline.

“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.”, Kelly Ortberg, Boeing President and CEO

Thoma Bravo’s New Horizon in Aerospace

A New Era for Jeppesen, ForeFlight, and AerData

With the acquisition finalized, Jeppesen, ForeFlight, AerData, and OzRunways begin a new phase under the ownership of Thoma Bravo. As a Software-focused investment firm with a track record of nurturing and growing technology companies, Thoma Bravo is well-positioned to guide these assets into their next stage of development. The firm has expressed its enthusiasm for the potential of these businesses, citing their history of innovation and impressive recent growth.

Thoma Bravo’s leadership has articulated a clear vision for the future. The firm plans to support the standalone growth of these companies through strategic Investments and the implementation of operational best practices. This approach suggests a commitment to enhancing the products and services that customers rely on, rather than simply absorbing them into a larger conglomerate. For the thousands of employees transitioning with these businesses, this signals a focus on continuity and future development under new, specialized ownership.

The agreement between Boeing and Thoma Bravo also includes principles for data sharing and future collaborations. This is a critical detail that ensures a smooth transition for customers and maintains the integrity of the services provided. By establishing a framework for cooperation, both companies are working to prevent disruptions and ensure that the high standards of safety and reliability expected in the aviation industry are upheld throughout this ownership change.

Thoma Bravo’s Strategic Investment

This Acquisitions is a significant move for Thoma Bravo, marking a substantial investment in the digital aviation sector. With over $179 billion in assets under management as of the end of 2024, the firm has the capital and expertise to fuel innovation and expansion for its newly acquired portfolio. The purchase aligns with Thoma Bravo’s strategy of investing in market-leading software companies with loyal customer bases and critical operational functions.

The leadership at Thoma Bravo has highlighted the unique strengths of the acquired assets. Holden Spaht, a Managing Partner at the firm, pointed to Jeppesen’s long history of technological innovation as a key factor in the acquisition. Similarly, Scott Crabill, another Managing Partner, noted the “impressive growth transformation in recent years” and expressed a commitment to building on that momentum. These statements reflect a deep appreciation for the legacy and potential of these aviation technology brands.

By bringing these companies under its umbrella, Thoma Bravo is not just acquiring software; it is acquiring decades of industry expertise, trusted brands, and essential infrastructure that supports global aviation. The firm’s role will be to provide the resources and strategic oversight needed to accelerate growth, enhance product offerings, and solidify the market leadership of these digital aviation pioneers.

Conclusion: A Refocused Boeing and an Expanding Thoma Bravo

The completion of this $10.55 billion sale marks a defining moment for both Boeing and Thoma Bravo. For Boeing, it represents a disciplined and strategic decision to double down on its core mission of designing, building, and servicing aircraft. The move strengthens its financial position and allows for greater focus on its primary operational challenges and opportunities. It is a clear execution of a long-term strategy aimed at ensuring stability and sustained growth in its main business areas.

For Thoma Bravo, this acquisition is a powerful entry into the heart of digital aviation. By taking ownership of trusted brands like Jeppesen and ForeFlight, the firm is poised to become a major force in a sector characterized by high barriers to entry and immense long-term value. The future of these assets will now be shaped by a firm dedicated to software excellence, potentially leading to accelerated innovation and new capabilities for the entire aviation ecosystem. This transaction effectively redraws a segment of the aerospace industry map, setting the stage for the next chapter of digital flight operations.

FAQ

Question: What specific businesses did Boeing sell to Thoma Bravo?
Answer: Boeing sold portions of its Digital Aviation Solutions business, which included Jeppesen, ForeFlight, AerData, and OzRunways.

Question: What was the value of the transaction?
Answer: The all-cash deal was valued at $10.55 billion.

Question: Why did Boeing decide to sell these assets?
Answer: The sale is part of Boeing’s strategy to strengthen its capital structure, focus on its core business operations (commercial and defense), and prioritize its investment-grade credit rating.

Sources

• Boeing Mediaroom