Boeing said on Tuesday it would sell portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, to private equity firm Thoma Bravo for $10.55 billion.

Business Insider reports there is a bidding war for Jeppesen, Boeing's navigation unit, surpassing an acquisition price north of $8 billion, higher than the initial target of $6 billion.

Boeing acquired Jeppesen for $1.5 billion in 2000. ForeFlight, AerData, and OzRunways were also included in the sale. The sale is a part of Boeing CEO Kelly Ortberg’s plan to reduce Boeing’s debt.

He added that the activity in the private credit markets for the remainder of the year will see a pick up in LBO transactions ...

Deal includes Jeppesen, ForeFlight, AerData, and OzRunwaysBoeing Air Transport pilot Elrey Jeppesen founded his eponymous company in 1934. Boeing bought Jeppesen in 2000 for $1.5 billion ...

(Reuters) -Boeing said on Tuesday it would sell portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, to private equity firm Thoma Bravo for $10.55 billion.

Business Insider reports there is a bidding war for Jeppesen, Boeing’s navigation unit, surpassing an acquisition price north of $8 billion, higher than the initial target of $6 billion.