Archer Aviation Acquires Boeing's Wisk Aero, SkyGrid, and Insitu Subsidiaries

Archer Aviation has announced that it will acquire Boeing's subsidiaries Wisk Aero, SkyGrid, and Insitu in a deal structured in shares and warrants. The transaction gives Boeing a stake of nearly 19.75% of Archer's Class A common stock, plus warrants with a notional value of US$200 million.

The acquisition includes Wisk Aero's sixteen years of development in autonomous eVTOL aircraft, SkyGrid's ground-based air traffic management platform, and Insitu's unmanned aircraft systems business. The three companies contribute nearly two million flight hours to the deal.

Boeing will retain access to Wisk's autonomy technology for its current and future commercial and defense programs. Archer will issue Boeing a number of Class A shares equivalent to 19.75% of the outstanding shares immediately before closing, with adjustments for the target companies' net cash position, debt, and expenses.

The transaction is conditioned on the expiration or termination of the waiting period under the Hart-Scott-Rodino Act, in addition to other national security and foreign investment approvals.