Boeing Sells Small Defense Surveillance Unit to Thales

Boeing closed a deal this month to sell a small defense subsidiary that makes surveillance equipment for the U.S. military, the company said on Sunday, as the planemaker looks to shore up its struggling finances.

Boeing said in a statement that Digital Receiver Technology, which makes wireless equipment used by intelligence services, will be sold to Thales Defense & Security, an arm of Europe’s largest defence electronics firm.

Boeing did not disclose the terms of the deal.