Boeing [NYSE: BA] completed the acquisition of ForeFlight, a leading provider of innovative mobile and web-based aviation applications.
ForeFlight has partnered with Boeing for the past two years to bring aviators Jeppesen's aeronautical data and charts through ForeFlight's popular mobile platforms. Now, the teams will integrate talent and offerings to bring innovative, expanded digital solutions to all segments of the aviation industry.
"We are excited to build on ForeFlight's tremendous success in personal, business and defense aviation so we can provide next-generation, integrated tools to our aviation customers today," said Ken Sain, Boeing Vice President of Digital Solutions and Analytics. "This acquisition also expands Boeing's rapidly growing, unparalleled digital services portfolio which will enable us to compete and win in the $2.8 trillion, 10-year services market."
The acquisition of ForeFlight aligns with Boeing's growth strategy of complementing organic investments with targeted, strategic investments that position the company for long-term growth.
"We are inspired by the future built at Boeing and what our teams will be able to create by coming together," said Tyson Weihs, co-founder and CEO of ForeFlight. "Our companies share a passion for delivering customers the essential tools that drive efficiency, productivity, and safety."
Terms of the approved deal are not being disclosed and do not affect Boeing's financial guidance or the company's commitment to returning approximately 100 percent of free cash flow to shareholders.
Headquartered in Houston, Texas, ForeFlight has approximately 180 employees.
Boeing is the world's largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As the top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 150,000 people worldwide and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.