Story ID: 
Thoma Bravo Buying Boeing Digital Aviation Solutions
By: Matt Thurber
Caption: Deal includes Jeppesen, ForeFlight, AerData, and OzRunways
Word Count: 285
Investment firm Thoma Bravo today agreed to purchase Boeing’s Digital Aviation Solutions business in an all-cash transaction valued at $10.55 billion. Expected to close by year-end, subject to regulatory approval, the deal includes Boeing’s Jeppesen, ForeFlight, AerData, and OzRunways assets.
According to Boeing, it will retain digital capabilities for the provision of predictive and diagnostic maintenance insights for commercial and defense customers that use its fleet maintenance, diagnostics, and repair services.
Boeing Digital Aviation Solutions employs about 3,900 people, including those who will remain with Boeing and those who are part of the assets being sold. Boeing 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 in accordance with all obligations.”
Thoma Bravo specializes in acquiring software companies, and said it “was formed out of a mentor-mentee relationship when Carl Thoma hired Orlando Bravo at the start of his private-equity career and taught him the science of dealmaking. The two, now partners and co-founders, continue to foster a mentorship culture.”
“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,” said Holden Spaht, a managing partner at Thoma Bravo.
“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 president and CEO Kelly Ortberg.
Boeing bought Jeppesen in 2000 for $1.5 billion and added ForeFlight in 2019 for an undisclosed amount.