What Happened
Silicon Valley Startup Expands Into Diversified Aerospace Player
Archer Aviation has announced the acquisition of Boeing’s Wisk Aero, Insitu, and SkyGrid subsidiaries, marking a significant expansion into the autonomous flight and drone markets. The deal includes Boeing taking an equity stake in Archer and a nominee on its board, as well as a technology-sharing arrangement. Insitu, a profitable drone business, generates over $200 million in annual revenue and has operations in 35 countries. The combined entities have nearly 2 million flight hours, which will feed into Archer’s AI model for aerospace and defense. This acquisition was first reported by various sources, including a joint press release from Boeing and Archer.