Boeing Sells Defense Unit Amidst Financial Woes

Boeing has sold its defense subsidiary, Digital Receiver Technology, to Thales Defense & Security. The sale is part of Boeing's efforts to stabilize its finances. Digital Receiver Technology specializes in wireless surveillance equipment for the U.S. military and intelligence services. The terms of the deal were not disclosed.

Boeing, struggling with its finances, has finalized a deal to sell a defense subsidiary this month. The company announced on Sunday the sale of Digital Receiver Technology, which produces surveillance equipment for the U.S. military.

Boeing revealed that Digital Receiver Technology will be acquired by Thales Defense & Security, a division of Europe's leading defense electronics company.

However, the specifics regarding the terms of this transaction remain undisclosed.

(With inputs from agencies.)