Archer to buy Boeing's Wisk, two other units for nearly 20% equity stake
ACHR•Archer to acquire Wisk, Insitu and SkyGrid
Archer Aviation said on Monday it would acquire Boeing's electric aircraft firm Wisk Aero and two other units, in a deal that will give the planemaker a nearly 20% stake in the air-taxi maker.
The acquisitions, which also include drone maker Insitu and airspace-services provider SkyGrid, give Archer access to Boeing's autonomous-flight technology, potentially bolstering its position in defense and commercial logistics. Archer shares rose about 14% in morning trading.
It also marks Boeing's latest effort to streamline its portfolio and sharpen its focus on its core commercial and defense aircraft businesses, while stepping back from its air-taxi ambitions.
Boeing to receive nearly one-fifth of Archer's stock
Boeing will receive Archer shares representing 19.75% of the air-taxi company's outstanding Class A stock prior to closing and gain the right to appoint a director to the startup's board.
