Private equity firm Thoma Bravo is reportedly in advanced talks to acquire Boeing’s Jeppesen navigation unit, in a deal valued between $8-$9bn, according to Bloomberg.
Sources familiar with the matter noted that intense competition among bidders pushed Jeppesen's valuation beyond Boeing’s original $6bn price target, when the auction launched last year.
Jeppesen, based in Englewood, Colorado, provides aviation navigation tools and software. Boeing acquired Jeppesen in 2000 for $1.5bn.
This transaction would represent a step in Boeing CEO Kelly Ortberg’s plan to raise capital by shedding non-essential business units.
An official announcement on the sale is expected later this week.