Jeppesen, ForeFlight sold to private equity

The aircraft maker will retain some portions of its digital services portfolio related to these companies, saying the firms will prioritize "as seamless of a transition as possible for employees while continuing to meet the needs of customers," according to a Boeing news release.

The $10.55 billion transaction is subject to regulatory approval and is expected to close by the end of the year. If approved, it would rank among the largest private equity carve-outs in recent years, according to Reuters. Thoma Bravo, a private equity firm, outbid rivals to add Jeppesen, ForeFlight, and two other Boeing companies to its software and technology portfolio valued at $179 billion as of December 31.

Reuters reported that a bidding battle over Boeing's digital aviation assets broke out in March, with various private equity firms valuing Jeppesen alone at between $8 billion and $9 billion. Honeywell was reported to also be among the suitors eying the package of companies that also includes AerData, an aircraft leasing, maintenance, and asset management solution, and OzRunways, a flight planning tool used by pilots in Australia.

Boeing's digital units employ about 3,900 people globally, not all of whom are moving with the sale, the company noted.

"Boeing will retain core digital capabilities that harness both aircraft and fleet-specific data to provide commercial and defense customers with fleet maintenance, diagnostics and repair services. This digital expertise will continue to provide predictive and prognostic maintenance insights."

Thoma Bravo Managing Partner Holden Spaht said the firm takes pride in its investment, noting Jeppesen's long history.

"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," Spaht said in the news release.