Boeing Co. agreed to sell its flight navigation unit and other digital assets to Thoma Bravo for $10.6 billion in cash, the first major portfolio transaction under Chief Executive Officer Kelly Ortberg as he seeks to shore up the planemaker’s finances.

Technology-focused buyout firm Thoma Bravo is in advanced talks to acquire Boeing's Jeppesen navigation unit, with an announcement anticipated later this week, Bloomberg News reported on Monday, citing people familiar with the matter.

The deal, with the private equity firm Thoma Bravo, will help the struggling aerospace manufacturer pay down debt and streamline its operations.