Archer Aviation Acquires Boeing's Wisk Aero and Two Units for 19.75% Stake

Archer Aviation's shares surged nearly 10% on Monday after the electric air-taxi maker agreed to acquire Boeing's Wisk Aero and two other units in exchange for a 19.75% stake in Archer.

The deal includes drone manufacturer Insitu, which has annual revenue of over $200 million, and airspace-services provider SkyGrid. This acquisition will give Archer access to Boeing's autonomous-flight technology and potentially strengthen its position in defence and commercial logistics.

Boeing will retain a 19.75% stake in Archer and the right to appoint a director to its board. It will also maintain access to Wisk's technology for its commercial and defence aircraft programmes. For Boeing, this marks another step towards simplifying its portfolio and focusing on core businesses.