Shares of Archer Aviation (ACHR +11.99%) climbed on Monday after the advanced aviation specialist struck a multipart deal with industry titan Boeing (BA -0.69%).
Image source: Archer Aviation.
Procuring cutting-edge tech
Archer agreed to acquire three of Boeing's subsidiaries that are developing innovative autonomous flight technologies.
Like Archer, Wisk Aero is a pioneer in electric vertical takeoff and landing (eVTOL) aircraft, with well-regarded flight-control, sensor, and radar systems.
SkyGrid specializes in air traffic management tools for automated airspaces.
And Insitu makes uncrewed aircraft used by the U.S. military and its allies for intelligence, surveillance, and reconnaissance missions.
NYSE: ACHR
Key Data Points
Building an integrated AI network
By combining these autonomous capabilities with its own artificial intelligence initiatives, Archer intends to create "a groundbreaking end-to-end physical AI platform for aerospace and defense."
"This is the next big step forward in becoming a diversified platform, rapidly growing our revenue base, and bringing scale to our business," Archer's CEO Adam Goldstein said.
Boeing will take a nearly 20% stake in Archer as part of the deal. The two companies also agreed to share access to Wisk's core autonomous flight technology.
"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," Boeing executive Brian Yutko said.
