Boeing is selling three subsidiaries working on autonomous flight to Archer Aviation, one of a handful of companies racing to bring small electric aircraft to market. In exchange, Boeing will receive a nearly 16.5 percent stake in Archer and other benefits.
Archer announced the deal on Monday, saying that it would acquire Boeing’s Wisk Aero unit, which is developing an electric, autonomous air taxi; SkyGrid, which is working on an automated air traffic management system; and Insitu, which is developing unmanned aircraft for military purposes.
Archer itself is developing piloted electric aircraft capable of taking off and landing vertically like a helicopter, for both commercial and defense uses. The deal is expected to close by the end of this year, pending regulatory approval.
“This is a watershed moment for Archer and the future of physical A.I. in aerospace and defense,” Adam Goldstein, the company’s founder and chief executive, said in a statement. “This is the next big step forward in becoming a diversified platform, rapidly growing our revenue base and bringing scale to our business.”
Wisk and Archer were onetime rivals. In 2023, the two companies agreed to end a bitter legal dispute in which Wisk accused Archer of stealing proprietary information. As part of that agreement, Boeing invested an undisclosed amount in Archer.
Wisk was formed in 2019 as a partnership between Boeing and Kitty Hawk, a company backed by Google’s co-founder Larry Page. After a series of crises beginning in 2018, Boeing has spent the last few years focusing on its core businesses.
In addition to the nearly 16.5 percent stake in Archer, Boeing will get the opportunity to buy up to $200 million of Archer shares at preset prices over the next few years, and a seat on Archer’s board. The companies will also enter into a technology-sharing agreement under which Boeing will keep access to Wisk’s autonomous flight technology for its own commercial and military aircraft.
“This transaction is a win-win for Boeing and Archer,” Brian Yutko, a Boeing vice president and former chief executive of Wisk, said in a statement. “Having worked with the incredible teams in these companies firsthand, it’s clear this transaction will create an industry leader in the advanced aviation market.”
