Archer Aviation Acquires Boeing Subsidiaries in Groundbreaking Deal
Archer Aviation has made a significant move in the aviation industry by acquiring three Boeing subsidiaries. The deal, which was announced on Monday, sees Archer purchase Wisk Aero, SkyGrid, and Insitu from Boeing. As part of the agreement, Boeing will take a stake in Archer and retain access to Wisk's autonomous flight technology for its current and next-generation commercial and defense aircraft.
The companies claim that this deal will create a 'groundbreaking' end-to-end physical AI platform for aerospace and defense. This combination of complementary capabilities developed over decades in autonomy, electric vertical take-off and landing (eVTOL) aircraft, and unmanned aircraft systems (UAS) is expected to bring scale and rapid growth to Archer's business.
Archer's founder and CEO, Adam Goldstein, described the deal as a 'watershed moment' for the company. He emphasized that this acquisition will enable Archer to become a diversified platform and rapidly grow its revenue base. Brian Yutko, Boeing's vice president of Commercial Airplanes Product Development, also expressed his enthusiasm for the deal, stating that it will create an industry leader in advanced aviation.
As a result of the announcement, Archer shares surged 24.7% to $6.97 in pre-market trade on Monday.