Archer Aviation Buys $200M Defense Businesses from Boeing

Archer Aviation has agreed to buy three defense businesses from Boeing for an undisclosed price. The deal includes Wisk Aero, SkyGrid, and Insitu, with the latter being a military drone business that generates over $200 million in annual sales.

The purchase is not made in cash but rather through stock exchange, with Boeing receiving approximately 19.75% of Archer Aviation's Class A shares outstanding immediately before the deal closes.

Archer Aviation says Insitu brings a significant source of revenue to the company and expands its customer base, serving customers in 35 countries.