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Archer Acquires Former Rival Wisk Aero in Boeing Deal
Archer Aviation has acquired Wisk Aero, its former rival, as part of a transaction with Boeing that also includes two other subsidiaries. Boeing now holds a 16.5% ownership stake in Archer.
The deal, which came together this week, gives Archer control of Wisk Aero, a company that had been one of its most prominent competitors in the electric vertical takeoff and landing (eVTOL) sector. Boeing agreed to sell Wisk along with SkyGrid, which develops digital airspace and air traffic management software, and Insitu, a drone manufacturer.
In exchange, Boeing received a 16.5% stake in Archer. The aerospace giant's new ownership position ties together the two companies at a time when the nascent air taxi industry is still working through regulatory hurdles.
The acquisition follows a contentious legal history. Wisk sued Archer in 2021 over allegations that Archer had stolen confidential information and intellectual property. The dispute ran for two years before the companies reached an unusual settlement that ended both Wisk's lawsuit and Archer's countersuit, which had sought $1 billion in damages. The settlement also paved the way for collaboration between the two.
Industry observers see the move as another sign that eVTOL developers are consolidating and seeking near-term revenue streams while they await certification for electric air taxis. The deal is one of several larger transactions involving electric aircraft companies this week.