Stocks
Archer Aviation Acquires Boeing Subsidiaries in All-Stock Deal
Archer Aviation has announced it will acquire three Boeing subsidiaries in an all-stock deal. The units being acquired are Wisk Aero, Insitu, and SkyGrid.
The acquisition is a significant move for Archer Aviation as it aims to strengthen its foundations and diversify its operations. With the completion of the deal, Boeing will hold a 16.75% equity stake in Archer Aviation.
Insitu alone generates over $200 million in annual revenue, operating in 35 countries, and producing profits. The acquisition is expected to boost Archer's sales profile and improve its margin profile.