Archer Aviation Buys Boeing Businesses for $200 Million in Stock

Archer Aviation has made a significant move to bolster its financials by acquiring three businesses from Boeing for $200 million in stock. The deal, which includes Wisk Aero, SkyGrid, and Insitu, will give Archer a seat on the board of directors and two warrants worth roughly $100 million each.

The largest of the acquired businesses is Insitu, a military drone company that generates over $200 million in annual sales. This dwarfs Archer's own revenue, which is currently in the single-digit millions.

Investors seem to have approved of the move, with Archer stock rising by 10.38% on Monday. The deal is expected to close by the end of the year, but Boeing will retain a stake in Archer for at least a year.