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Archer Buys Boeing's Drone Unit, Gets 20% Stake
10 Aug
Summary
- Archer Aviation acquires Wisk Aero and two subsidiaries from Boeing.
- Boeing will receive a nearly 20% stake in the combined company.
- A collaboration agreement preserves Boeing's access to Wisk's tech.
Archer Aviation is set to acquire Boeing's electric aircraft division, Wisk Aero, in a significant consolidation within the aerospace industry. The deal also includes Boeing's drone unit, Insitu, and airspace services provider SkyGrid. As part of this transaction, which was announced on Monday, Boeing will secure a substantial stake of nearly 20% in the enlarged Archer company.
This acquisition is complemented by a new collaboration and technology-sharing agreement between Boeing and Archer. This agreement is crucial as it guarantees Boeing continued access to Wisk's advanced autonomous-flight technology. This technology will be applicable across Boeing's diverse range of current and future commercial and defense aircraft programs.
Following the announcement of the acquisition, Archer Aviation's stock experienced a notable surge, trading up 19% in premarket activity, indicating positive market reception to the strategic consolidation. The deal streamlines assets in the growing electric aviation and autonomous flight sectors.
