Boeing (BA) Stock Rises on $10.55 Billion Sale of Digital Aviation Solutions

3 days ago

Boeing's (BA, Financial) stock saw an increase of up to 2.3% following the announcement of its agreement to sell part of its digital aviation solutions business to Thoma Bravo for $10.55 billion in cash. The sale includes units such as Jeppesen, ForeFlight, AerData, and OzRunways.

Boeing plans to retain its core digital capabilities and expects the transaction to be completed by the end of 2025. The company's CEO, Kelly Ortberg, stated that this move is a crucial part of Boeing's strategy to focus on core businesses, strengthen its balance sheet, and prioritize maintaining an investment-grade credit rating. Citigroup is serving as Boeing's exclusive financial advisor for the deal.

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