Archer Aviation to acquire Boeing's Wisk, Insitu and SkyGrid units
Archer Aviation has agreed to acquire three Boeing subsidiaries — Wisk Aero, Insitu and SkyGrid — in an all-stock deal that would make Boeing the electric air taxi developer's largest outside shareholder.
On August 10, Archer Aviation said it would acquire Wisk Aero, Insitu and SkyGrid from Boeing in an all-stock deal. The companies said the transaction is expected to make Boeing the largest outside shareholder in Archer.
Wisk Aero develops autonomous electric vertical take-off and landing aircraft. It was once a joint venture with Boeing before becoming a wholly owned subsidiary. Insitu makes unmanned aircraft systems. SkyGrid works on airspace management software.
As part of the arrangement, Boeing and Archer will enter into a cross-licensing agreement. This will let Boeing use Wisk's autonomous flight technology across its current and future commercial and defense programs, the companies said.
The acquisition is described as part of a wider effort by Boeing to sell off assets outside its core business. The available information did not detail financial terms beyond the all-stock structure.
Archer has been developing its own electric vertical take-off and landing aircraft for urban air mobility. Through the deal, it would gain Wisk's autonomy technology along with additional unmanned systems expertise. The transaction is still subject to customary conditions. A specific closing timeline was not given in the sources reviewed.
Sources
- theaircurrent.comArcher to acquire rival Wisk as Boeing broadens its asset sales
- aerospacetestinginternational.comArcher to acquire Boeing’s Wisk, Insitu and SkyGrid