Archer Aviation Soars on Boeing Deal, Gains Autonomous Tech

Archer Aviation Inc., developer of electric air-taxis, saw its shares rise almost 14% after announcing a deal to acquire Boeing's Wisk Aero and two other firms.

The agreement will provide Archer with autonomous-flight technology from Wisk, as well as drone maker Insitu and airspace-services supplier SkyGrid.

One of the most significant components is the acquisition of Insitu, which is already profitable and generates over $200 million per year. This adds a much-needed cash stream to Archer's eVTOL business, which is awaiting major commercial revenue.

The deal also expands Archer's presence in defense, surveillance, and logistics areas, where demand could arise sooner than for commercial air-taxis.