M&A Deal Summary

Thoma Bravo Acquires Boeing - Digital Aviation Solutions

On April 22, 2025, private equity firm Thoma Bravo acquired software company Boeing - Digital Aviation Solutions from Boeing for 10.6B USD

Acquisition Highlights
  • This is Thoma Bravo’s 65th transaction in the Software sector.
  • This is Thoma Bravo’s 4th largest (disclosed) transaction.
  • This is Thoma Bravo’s 126th transaction in the United States.
  • This is Thoma Bravo’s 5th transaction in Virginia.

M&A Deal Summary

Date 2025-04-22
Target Boeing - Digital Aviation Solutions
Sector Software
Buyer(s) Thoma Bravo
Sellers(s) Boeing
Deal Type Divestiture
Deal Value 10.6B USD

Target

Boeing - Digital Aviation Solutions

Arlington, Virginia, United States
Boeing's Digital Aviation Solutions division focuses on providing software and data-driven services for the aviation industry, including assets like Jeppesen, ForeFlight, AerData, and OzRunways. Boeing's Digital Aviation Solutions is based in Arlington, Virginia.

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Buyer(S) 1

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 145 of 151
Sector: Software M&A 65 of 69
Type: Divestiture M&A Deals 14 of 14
State: Virginia M&A 5 of 5
Country: United States M&A 126 of 132
Year: 2025 M&A 3 of 9
Size (of disclosed) 4 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-17 PCMI

Park Ridge, Illinois, United States

PCMI offers a modular package of software solutions for the administration of F&I Products, Service Contracts, and Extended Warranties. PCMI’s SaaS platform, Policy Claim, and Reporting Solutions, supports and automates the full lifecycle of all aftermarket products and provides the most flexible environment for administrators, insurers, OEMs, agents, and dealers to launch new products. PCMI was founded in 2012 and is based in Park Ridge, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-05 HubSync

Franklin, Tennessee, United States

HubSync is a provider of tax and accounting automation and a client experience platform for accounting firms and tax professionals to manage their workflows. HubSync was formed in 2019 and is headquartered in Franklin, Tennessee.

Buy -

Seller(S) 1

SELLER

Boeing

Arlington, Virginia, United States

Category Company
Founded 1916
Sector Aerospace
Employees172,000
Revenue 66.5B USD (2024)
DESCRIPTION
Entrance to Boeing's corporate headquarters in Arlington, Virginia.
Entrance to Boeing's corporate headquarters in Arlington, Virginia.

Boeing is a global aerospace company that operates in five principal segments. These segments include Commercial Airplanes; Boeing Defense, Space & Security (BDS) which comprises of Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S); and Boeing Capital Corporation (BCC). The Company's other business includes the activities of Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG). EO&T provides Boeing with technical and functional capabilities, including information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management. Boeing was founded in 1916 and is based in Arlington, Virginia.


DEAL STATS #
Overall 6 of 6
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 6 of 6
State: Virginia M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-20 Wagner Sustainable Fuels

Toowoomba, Australia

Wagner Sustainable Fuels is an Australian company focused on producing eco-friendly fuel solutions. Wagner Sustainable Fuels' primary mission is to reduce the environmental impact of industries such as aviation and heavy transport by providing sustainable alternatives like Sustainable Aviation Fuel (SAF) and Renewable Diesel (RD). Wagner Sustainable Fuels is based in Toowoomba, Australia.

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