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Archer will acquire Boeing’s Wisk Aero, SkyGrid and Insitu subsidiaries.
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Archer’s Founder and CEO, Adam Goldstein, sees this as the next big step toward becoming a diversified platform, rapidly growing the revenue base, and bringing scale to the business.
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Under the collaboration, Boeing will retain access to the Wisk core autonomous flight technology for its current and next-generation commercial and defense aircraft.
Shares of Archer Aviation (ACHR) shot up over 21% in Monday’s pre-market after the company, along with Boeing (BA), announced that Archer will acquire Boeing’s Wisk Aero, SkyGrid and Insitu subsidiaries.
The acquisition of the three companies, with nearly two million combined flight hours, is expected to bring a deep autonomy foundation to Archer’s ZEE artificial intelligence platform. Following this, Archer will be able to deliver an end-to-end physical AI platform across commercial aerospace, defense and air traffic management.
Archer’s Founder and CEO, Adam Goldstein, sees this as the next big step forward in becoming a diversified platform, rapidly growing the revenue base and bringing scale to the business.
Recently, Archer had announced that ZEE had achieved a technical breakthrough as it displayed the capability to accurately predict real-time aircraft trajectories on the airport surface minutes into the future. Archer said it has already started testing this technology at Hawthorne Airport and previewed it with commercial partners and regulators.
What Do The Companies Do?
Wisk is an Advanced Air Mobility (AAM) company. The firm was founded in 2010 and claims to be the only company to have designed, built, and flown six generations of eVTOL aircraft.
SkyGrid builds high-assurance third-party services to enable the safe operation and integration of autonomous aircraft. Meanwhile, Insitu designs, develops, and manufactures uncrewed aircraft systems (UAS) used in intelligence, surveillance, and reconnaissance.
Boeing Enters Into Collaboration With Archer
Boeing and Archer have also entered into a collaboration and technology-sharing arrangement. Under this, Boeing will retain access to the Wisk core autonomous flight technology for its current and next-generation commercial and defense aircraft.
According to the announcement, the transaction will enable Boeing to retain strategic upside through its stake in Archer and focus on current and future investments into Boeing’s core businesses.
