Jeppesen, a part of Boeing Commercial Aviation Services, today announced it has reached an agreement to sell its marine business to Digital Marine Solutions.
“We are pleased that our marine team is joining Digital Marine Solutions, where it will continue to deliver industry-leading cartography and operations solutions to recreational and commercial mariners, alike,” said Kevin Crowley, Jeppesen chief executive officer. “We are making this move to focus on our core aviation business, while at the same time positioning the marine business to succeed.”
Digital Marine Solutions is owned by the Altor 2003 Fund, which is part of the Nordic based Altor family of private equity funds. This strategic acquisition leverages Altor’s long standing experience in the marine industry with its past and current holdings, most notably Navico, the world’s leading recreational marine electronics company and a major player in the commercial marine market.
“Jeppesen Marine is one of the premier players in electronic charting and value added services for recreational and commercial marine,” said Leif Ottosson, future chairman of the buyer. “We look forward to working with the team to create fresh innovations and to continue to work with Jeppesen Marine’s existing customers to further grow the business."
The companies are not disclosing terms of the sale. Completion of the transaction is subject to customary closing conditions. Between signing and closing, Jeppesen will continue to provide full support to the users of its marine products and services.
For more than 80 years, Jeppesen has made it possible for pilots and their passengers to safely and efficiently reach their destinations. Today, this pioneering spirit continues as Jeppesen delivers transformative information and optimization solutions to improve the efficiency of air operations around the globe. Jeppesen is a Boeing subsidiary and part of the Digital Aviation business unit within Boeing Commercial Aviation Services. Boeing offers the industry’s largest portfolio of support and services solutions, providing customers a competitive advantage by solving real operational problems, enabling better decisions, maximizing efficiency and improving environmental performance – intelligent information solutions across the entire aviation ecosystem