What Happened
Electric Aircraft Firm Expands With Autonomous Flight Technology
Archer Aviation has agreed to acquire three Boeing subsidiaries, including Wisk Aero, SkyGrid, and Insitu, in an all-stock deal. The transaction gives Boeing a roughly 16.5% stake in Archer and transforms a former legal adversary into its largest outside shareholder. The deal brings Archer autonomous-flight technology, airspace management software, and a defense drone business with over $200 million in annual revenue. According to BigGo Finance, Archer shares jumped about 20% on the announcement, and the company faces significant hurdles, including regulatory approval for its Midnight aircraft and a quarterly net loss of $263 million.