Boeing buys aviation parts company KLX for $4.25 billion

Boeing announced Tuesday that it reached an agreement to acquire aerospace parts distributor KLX for $4.25 billion as it boosts its aviation services business.
Boeing executives described the move as a significant step in bolstering its global services segment, which was launched last year and aims to increase annual revenues from $15 billion in 2017 to $50 billion in five years. "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," said Stan Deal, chief executive of Boeing Global Services.