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Boeing (BA) Stock Takes Off on Peters Software Acquisition

NEW YORK (TheStreet) -- The Boeing Co. (BA - Get Report) shares are higher by 0.24% to $140.03 on Monday morning, after the aircraft manufacturing giant announced that it bought German company Peters Software GmbH.

Details of the transaction were not disclosed.

Peters Software builds software to train commercial and private pilots in Europe and specializes in teaching regulations coming out of the European Aviation Safety Agency.

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"The high-quality software that Peters Software develops enhances Boeing's customized pilot training content to meet specific needs of our customers," stated Stan Deal, Boeing Commercial Airplane's senior VP of commercial aviation services.

Looking ahead, airlines will need nearly 558,000 new pilots over the next 20 years to meet the growing global demand, Boeing said.

Based in, Chicago, Boeing designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and...