Boeing Sells Stakes in Three Units to Archer Aviation

Archer Aviation is set to acquire three companies from Boeing, including Wisk Aero, an electric aircraft firm. The deal will give Boeing a nearly 20% stake in Archer and grant access to Wisk's autonomous-flight technology.

The acquisition includes drone maker Insitu and airspace-services provider SkyGrid. This marks Boeing's latest effort to streamline its portfolio and focus on commercial and defense aircraft businesses.

Archer, which has yet to generate significant revenue from its core business, will gain access to Insitu's profitable defense business that generates over $200 million in annual revenue.

According to Archer CEO Adam Goldstein, the deal allows them to start generating significant revenue immediately in a major growth market. Demand for intelligence, surveillance, and reconnaissance (ISR) drones is high, creating an opportunity for the company.