WICHITA, Kan. (KAKE) - Monday morning Boeing and Spirit Aerosystems confirmed Boeing will be buying Spirit for 4.7 billion dollars. This comes after months of speculation that the two were in talks of a deal.

"In some ways this is back to the future. Before 2005 this sign was a Boeing sign," said Spirit spokesperson Joe Buccino.

In 2005 Spirit broke off of Boeing and formed its own supplying company. Now two decades later Boeing is buying Spirit back and in 2025 the sign will once again say Boeing.

Buccino says it's been a long process. He says Boeing came to Spirit back in February about a possible acquisition. Spirit wasn't looking to sell at the time but it says after a lot of discussion it decided this would be the best move for its shareholders.

"It offers the best value for our shareholders and ultimately that's kind of the responsibility for the board of directors," he said.

He says this will give shareholders the most money. Both Boeing and Spirit say this will be a good thing for the public.

"You know, you think about the best ideas, the best practices, the best engineers, and bringing that all together under one roof. You integrate faster, you can move faster," he said.

The sale won't be closed until mid 2025 and until then Buccino says it will be business as usual at Spirit.

"Our team here will continue to make the best quality fuselages for Boeing. We'll continue to focus on quality and continue to focus on safety," he says.

Even when the Spirit sign once again reads Boeing, Buccino says not much will change. The focus and goal will remain the same but instead of having two separate companies there will only be one.

'With that you can move faster on things like quality improvements," says Buccino.

Spirit says it doesn't expect this to create any employment changes. It says it knows it has the best people working there and it's going to keep them.

Both companies say by combining the companies they can now align their workforces and make sure they have the same priorities, incentives, and outcomes.