Boeing has completed the sale of portions of its Digital Aviation Solutions business to Thoma Bravo, a US-based software investment firm, in an all-cash transaction worth $10.5bn.
The assets included in the transaction are Jeppesen, ForeFlight, AerData, and OzRunways.
Jeppesen is a provider of aeronautical and navigational information, charts, and software for the aviation and marine industries.
ForeFlight is an aviation software company that provides flight planning, weather, and navigation tools for pilots for use on iPad and iPhone.
AerData is a software and services provider that specialises in lease management, engine fleet planning, and records management.
OzRunways is an Australian electronic flight bag (EFB) app for pilots.
Boeing said the completion of the sale strengthens its capital structure and allows it to focus on its core business, including its retained Digital Services portfolio.
“These essential digital capabilities harness both aircraft and fleet-specific data to provide commercial and defense customers with fleet operations, maintenance, diagnostics and repair services,” the company said.
Immediately following the completion of the sale, Jeppesen ForeFlight announced its launch as an independent digital aviation entity.
Brad Surak, who previously led the Digital Aviation Solutions business at Boeing, will lead Jeppesen ForeFlight as CEO.
"Backed by 90 years of Jeppesen's gold-standard data and ForeFlight's relentless spirit of exploration, this combination is building the most unified, intuitive platform in aviation," said Surak.
"As we return to independence alongside a leader in software private equity investing, we're enabled to move faster, think bigger, and innovate."
Surak added that AI will be the “north-star” for the company’s multi-year roadmap of integrated solutions.
“Jeppesen ForeFlight is bringing AI to aviation, from the flight deck to the operations control center driving increased operational efficiency and bolstering safety." he said.
“We have an unmatched history of pioneering – from inventing aviation charts to transforming aeronautical data into digitized pilot support systems – and we've only just scratched the surface of what's possible."