What Happened
Air Taxi Company Expands with Defense Cash Flow and Boeing Stake
Boeing has handed Archer a significant boost with the acquisition of its Wisk Aero, Insitu, and SkyGrid businesses. The deal gives Boeing a nearly 20% stake in Archer, as well as a board seat and ongoing access to autonomy technology. Insitu, a profitable defense business, generates over $200 million in annual revenue, providing Archer with a substantial financial foundation. The acquisition was reported by Unknown Source.