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