Boeing to Sell Division to Science Applications

Boeing Co. agreed to sell its information services division to Science Applications International Corp., shedding a business it doesn’t consider essential to focus on commercial aircraft sales. Terms of the deal weren’t disclosed.

Science Applications, a closely held research and engineering company based in San Diego, will buy Boeing Information Services, which integrates computer systems, manages networks and performs other computer services for the military, NASA and other government agencies. Seattle-based Boeing said in April that it was in talks to sell the Vienna, Va.-based unit, which has 1,200 workers and yearly sales of about $300 million.

At the time, analysts said the unit could fetch $150 million. Science Applications is the parent of Network Solutions Inc., the company that dominates the business of assigning Internet addresses.

Boeing said in February that a group of unprofitable businesses, valued at $1.3 billion, might be shut or sold unless it could turn them around.

Separately, the U.S. Export-Import Bank said it approved a long-term loan guarantee to support the $346-million export of 11 Boeing 737 planes to Indonesia’s government-owned airline P.T. Garuda.

Boeing shares closed down 19 cents at $42.63 on the New York Stock Exchange.