Boeing Company (NYSE:BA) shares are trading higher on Tuesday after the company finalized an agreement to sell parts of its Digital Aviation Solutions division to Thoma Bravo for $10.55 billion in cash.
The Digital Aviation Solutions business includes Jeppesen, ForeFlight, AerData, and OzRunways assets.
The deal is expected to conclude by the end of 2025, subject to regulatory approval and closing conditions.
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Following the deal, Boeing will retain its central digital capabilities, which analyze aircraft and fleet data to provide commercial and defense clients with fleet maintenance, diagnostics and repair services.
The deal is anticipated to be finalized by year-end 2025, pending regulatory approvals and customary closing conditions.
Kelly Ortberg, Boeing president and chief executive officer said, “This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritize the investment grade credit rating,”
On Monday, the aircraft manufacturer secured new stocks of crucial fasteners that hold the 737 Max aircraft together, enabling the company continue production of the aircraft.
In April Boeing disclosed first-quarter deliveries of 130 commercial airplanes and 26 defense airplanes.
The company plans to release first quarter financial results on April 23.
Investors can gain exposure to the stock via the iShares U.S. Aerospace & Defense ETF (BATS:ITA) and the First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).
Price Action: BA shares are up 0.97% at $160.89 at the last check Tuesday.
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