Archer Aviation Buys Boeing Drone Empire for $55M, Lands Defense Business

Archer Aviation has acquired three Boeing subsidiaries in exchange for equity and a $55 million investment commitment. The deal includes Wisk Aero, Insitu, and SkyGrid, which brings decades of aerospace development to Archer's table.

The acquisition transforms Archer from a cash-burning air taxi startup into a defense-capable aerospace platform with an immediately profitable business and over two million combined flight hours of operational data.

Boeing will take a 19.75% stake in Archer's Class A shares and gain access to Wisk's core autonomous flight technology through cross-licensing agreements.

The deal resolves a three-year litigation saga between Archer and Wisk, with the two companies settling undisclosed financial terms in August 2023.