SEATTLE — Boeing has agreed to sell three aviation technology businesses, including electric aircraft developer Wisk Aero, to Archer Aviation in a transaction that will give Boeing a stake of nearly 20% in the electric air-taxi company, Archer said on Monday.
The deal also includes drone maker Insitu and airspace-services provider SkyGrid, giving Archer access to Boeing’s autonomous-flight, unmanned-aircraft and airspace-management technologies. Reuters reported that the transaction marks Boeing’s latest move to streamline its portfolio and focus on its core commercial and defense aircraft businesses.
Boeing will receive Archer Class A shares representing 19.75% of the air-taxi maker’s outstanding stock before the transaction closes and will have the right to appoint a director to Archer’s board, according to Reuters. The companies will also establish a collaboration and technology-sharing agreement that preserves Boeing’s access to Wisk’s autonomous-flight technology for current and future commercial and defense aircraft programs.
Wisk has been developing an autonomous electric passenger aircraft, while Insitu develops unmanned aircraft systems for intelligence, surveillance and reconnaissance applications. SkyGrid provides technology for managing increasingly automated airspace.
Archer CEO Adam Goldstein told Reuters that acquiring Insitu would give Archer access to a business generating more than $200 million in annual revenue. Archer has been developing its own electric vertical takeoff and landing, or eVTOL, aircraft for commercial air-taxi operations.
The transaction remains subject to closing conditions, with further details expected as the deal progresses.
