The Boeing acquisition history

Boeing acquired the aerospace and defense operations of Rockwell International, which were renamed Boeing North American, Inc. The businesses spanned military aircraft, missiles, space systems and rocket propulsion (including the Rockwell Space Systems and Rocketdyne heritage). The deal roughly doubled Boeing's defense and space footprint and was one of the first steps in the mid-1990s consolidation of the U.S. aerospace industry, ahead of Boeing's larger merger with McDonnell Douglas the following year. Approximately $860 million in Boeing common stock issued to Rockwell shareowners; Boeing also assumed the units' liabilities. Boeing's fairness analysis put the implied asset value of the aerospace-and-defense business in a $2.7-3.2 billion range.

Boeing merged with McDonnell Douglas, the defense and commercial-aircraft maker behind the F/A-18, F-15, C-17, Delta rockets and the MD-80/MD-90 airliner lines, in one of the largest aerospace combinations in history. The transaction, valued at $16.3 billion, combined Boeing's commercial-jet leadership with McDonnell Douglas's military-aircraft and space franchises and reshaped the global aerospace and defense landscape. $16.3 billion (all-stock; each McDonnell Douglas share converted into 1.3 Boeing shares under a fixed exchange ratio).

With the merger of The Boeing Company and McDonnell Douglas Corp. now completed, Boeing Chairman and Chief Executive Officer Phil Condit today announced that the board of directors of the newly merged company will be...The Boeing Company — Form 8-K reporting completion of the merger (event date August 1, 1997)

Boeing acquired the space and communications businesses and related operations of Hughes Electronics for $3,849 million in cash, renaming them Boeing Satellite Systems (BSS). BSS designs and builds space-based communications, reconnaissance, surveillance and imaging systems, and the deal made Boeing the world's largest manufacturer of commercial and military satellites. Related operations acquired alongside it included Spectrolab, a maker of solar cells and panels for satellites, and a stake in the HRL Laboratories research center. $3,849 million in cash.

On October 6, 2000, the Company acquired Hughes space and communications businesses and related operations... The acquired businesses will be operated under the name of Boeing Satellite Systems (BSS). BSS provides space-based communications, reconnaissance, surveillance and imaging systems.The Boeing Company — Form 10-K for fiscal year 2000

Boeing acquired Jeppesen Sanderson, a supplier of flight-information services, for $1,524 million in cash. Jeppesen provides a full range of print and electronic flight information -- navigation data, computerized flight planning, aviation software, aviation weather services, maintenance information and pilot-training systems -- and became a cornerstone of Boeing's commercial-aviation services strategy. The purchase-price allocation included $772 million of goodwill, $308 million of product know-how and $45 million of in-process research and development.

On October 4, 2000, the Company acquired Jeppesen Sanderson, Inc., a provider of flight information services... a full range of print and electronic flight information services, including navigation data, computerized flight planning, aviation software products, aviation weather services, maintenance information, and pilot training systems.The Boeing Company — Form 10-K for fiscal year 2000

Boeing acquired Aviall, the largest independent provider of new aviation parts and related aftermarket services, for $48 per share, or about $1.7 billion, plus assumed net debt. Aviall's capabilities span global parts distribution and supply-chain services for the aerospace, defense and marine industries, and the deal expanded Boeing's Integrated Materials Management offering and its position in the fast-growing aviation-parts-and-services market. Aviall reported 2005 revenue of $1.3 billion. $1.7 billion ($48.00 per share, all cash), plus assumption of approximately $448 million of debt net of Aviall's cash.

The aviation services market offers us tremendous opportunities to profitably grow our business, internally and externally, to better serve our commercial and military customers. This acquisition is uniquely powerful in that it leverages the strong and growing services units of both our commercial and military businesses.W. James McNerney — Chairman, President and CEO, The Boeing Company

We are delighted to become part of The Boeing Company. Our combined industry knowledge creates a dynamic team that will continue to enable our customers to achieve greater efficiency, operational savings and profitability.Paul Fulchino — Chairman, President and CEO, Aviall, Inc.

Boeing acquired Insitu, a pioneer in small unmanned air systems best known for the ScanEagle, which Boeing and Insitu had developed together since 2002. Insitu designs and builds high-performance, low-cost unmanned aircraft used for intelligence, surveillance and reconnaissance by military and commercial customers. The acquisition deepened Boeing's presence in the unmanned-systems market. Terms of the cash transaction were not disclosed.

Boeing agreed to acquire Argon ST, a developer of command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) and combat systems, in an all-cash tender offer and merger valued at about $775 million. Founded in 1997 and headquartered in Fairfax, Virginia, Argon ST specialized in sensors, communications technologies and information management, and the deal advanced Boeing's growth strategy in the C4ISR, cyber and intelligence markets. Boeing had partnered with Argon ST for roughly two years before the acquisition. $34.50 per share, or approximately $775 million net of cash acquired (all cash).

Combining the strength of Boeing with the experience of Argon ST will significantly accelerate our capabilities in sensors, communications technologies and information management.Dennis Muilenburg — President and CEO, Boeing Defense, Space & Security

Boeing acquired Liquid Robotics, a maker of autonomous, wave- and solar-powered ocean robots. Its Wave Glider had traveled more than a million nautical miles collecting ocean data and providing communications for defense, commercial and science customers. Boeing and Liquid Robotics had collaborated since 2014 on the Sensor Hosting Autonomous Remote Craft (SHARC), which integrates Boeing sensors with the Wave Glider for maritime intelligence, surveillance and reconnaissance. Terms were not disclosed.

With Liquid Robotics' innovative technology and Boeing's leading intelligence, surveillance, and reconnaissance solutions, we are helping our customers address maritime challenges in ways that make existing platforms smarter, missions safer and operations more efficient.Leanne Caret — President and CEO, Boeing Defense, Space & Security

This acquisition allows us to leverage the strengths of one of the world's leading global companies while continuing to push our innovation to new levels.Gary Gysin — President and CEO, Liquid Robotics

Boeing acquired KLX Inc., a major independent provider of aviation parts and supply-chain services, for $63 per share, totaling about $4.25 billion including assumed net debt. The deal covered KLX's Aerospace Solutions Group and was conditioned on KLX separating its Energy Services Group. KLX -- also a leading supplier of chemical composites -- was fully integrated with Aviall inside Boeing Global Services to create a broader parts-and-productivity-services provider, with anticipated annual cost savings of roughly $70 million by 2021. $4.25 billion ($63.00 per share, all cash, plus assumption of approximately $1.0 billion of net debt).

This acquisition is the next step in our services growth strategy, with a clear opportunity to profitably grow our business and better serve our customers in a $2.6 trillion, 10-year services market. By combining the talent and product offerings of Aviall and KLX Inc., we will provide a one-stop-shop that will benefit our supply chain and our various customers in a meaningful way.Stan Deal — President and CEO, Boeing Global Services

Boeing acquired Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions, to expand its portfolio of advanced small-satellite technologies and flexible mission solutions. Boeing disclosed the completed deal in its third-quarter 2018 earnings materials, noting the acquisition would provide customers with advanced small-satellite capabilities. Millennium operated under Boeing Phantom Works following the close. Terms were not disclosed.

We also completed the acquisition of Millennium Space Systems, which will provide customers with advanced small-satellite technologies and flexible solutions.The Boeing Company — third-quarter 2018 earnings release (Form 8-K, Item 2.02, Exhibit 99.1)

Boeing acquired ForeFlight, a leading provider of mobile and web-based aviation applications used by pilots for flight planning, navigation and weather. Boeing confirmed the completed acquisition in its first-quarter 2019 earnings materials. ForeFlight had partnered with Boeing for two years to deliver Jeppesen aeronautical data and charts through its mobile platforms, and the deal expanded Boeing's digital-aviation and flight-services offerings, complementing Jeppesen. Terms were not disclosed.

In addition, Global Services completed the acquisition of ForeFlight, a leading provider of innovative mobile and web-based aviation applications.The Boeing Company — first-quarter 2019 earnings release (Form 8-K, Item 2.02, Exhibit 99.1)

Wisk Aero, an autonomous electric vertical-takeoff-and-landing (eVTOL) air-taxi developer, became a wholly owned Boeing subsidiary in early 2023. Wisk originated as a Boeing-Kitty Hawk joint venture formed in 2019; after Boeing committed a further $450 million to Wisk in 2022 and Kitty Hawk wound down, Boeing took full ownership. Wisk is developing a four-seat, all-electric autonomous air taxi and is headquartered in Mountain View, California. Exact terms and the precise closing date of the move to full ownership were not disclosed; the date shown is a year-only placeholder.

Boeing reacquired Spirit AeroSystems, the fuselage and aerostructures maker Boeing had spun off in 2005, in an all-stock deal valued at about $4.7 billion in equity (roughly $8.3 billion including net debt). Boeing framed the reintegration as a way to fully align commercial production, safety and quality-management systems following 737 quality issues. The acquisition brought in Spirit's Boeing-related commercial operations -- including 737 fuselages and major structures for the 767, 777 and 787 -- plus commercially procured fuselages for the P-8 and KC-46 and Spirit's aftermarket business. Spirit's defense work was organized into a standalone Spirit Defense, and Airbus separately agreed to take over Spirit's Airbus-related work. Approximately $4.7 billion equity value ($37.25 per share, all stock); total transaction value approximately $8.3 billion including Spirit's net debt.

We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly. By reintegrating Spirit, we can fully align our commercial production systems, including our Safety and Quality Management Systems, and our workforce to the same priorities, incentives and outcomes centered on safety and quality.Dave Calhoun — President and CEO, The Boeing Company (at announcement)

This is a pivotal moment in Boeing's history and future success as we begin to integrate Spirit AeroSystems' commercial and aftermarket operations and establish Spirit Defense.Kelly Ortberg — President and CEO, The Boeing Company (at close)