Robert Besser
03 Apr 2025

ENGLEWOOD, Colorado: Boeing's high-stakes auction of its navigation unit Jeppesen has entered its final stages, drawing intense interest from private equity and aerospace players with bids now expected to exceed US$8 billion, sources told Reuters.

The aviation giant is preparing to invite final offers in the coming weeks, according to six people familiar with the matter, who requested anonymity due to the confidential nature of the talks.

Jeppesen, based in Englewood, Colorado, produces navigation software and flight planning tools, and has become a highly sought-after asset for aerospace suppliers and investment firms seeking steady, cash-generating businesses.

Private equity groups have formed joint bids in recent weeks, including teams of Vista Equity and Warburg Pincus, Advent International and Permira, and TPG with Francisco Partners, according to three sources.

Other individual bidders include aircraft parts maker TransDigm, as well as buyout firms Thoma Bravo and Silver Lake, the sources added. Honeywell and Carlyle have also expressed interest, but it's unclear if they plan to submit final offers. Honeywell already offers competing navigation products.

If a deal is finalized, it would be one of the most significant carve-out transactions in recent years. In 2023, Ball Corp sold its aerospace business to BAE Systems for $5.6 billion.

Three sources said final offers could value Jeppesen between $8 billion and $9 billion, a notable jump from Boeing's initial price target of $6 billion when it launched the auction late last year. Robust demand has driven up the valuation.

Neither Boeing nor any of the prospective buyers—including TransDigm, Vista, Warburg Pincus, TPG, Thoma Bravo, Silver Lake, and others—commented on the deal. Carlyle did not respond to a request for comment.

The Jeppesen sale is part of Boeing CEO Kelly Ortberg's broader strategy to streamline operations and reduce debt by divesting non-core assets. Boeing also recently sold its maintenance business at London's Gatwick Airport to British Airways and is exploring the sale of its drone subsidiary, Insitu.

Boeing bought Jeppesen for $1.5 billion in 2000. The company's founder, Elrey Borge Jeppesen, began developing pilot navigation charts in the 1930s while flying for a Boeing-owned airline.