Aug 10 (Reuters) - Air taxi maker Archer Aviation entered into a deal to acquire Boeing's electric aircraft unit, Wisk Aero, along with two related subsidiaries, and in exchange will give Boeing a nearly 20% stake in the combined company, the companies said on Monday.
Along with Wisk, which has been developing an autonomous electric aircraft designed to carry passengers, Archer will acquire Boeing's drone maker Insitu and airspace-services provider SkyGrid. Archer shares rose 21% in premarket trading.
The acquisition gives Archer access to Boeing's autonomous-flight technology, potentially strengthening its position in defense and commercial logistics markets as well as passenger aviation.
Archer is developing electric vertical takeoff and landing aircraft for commercial service, initially targeting short trips in urban areas and between airports and city centers.
But despite years of investments and ambitious forecasts, the eVTOL industry has yet to demonstrate that air taxis can be certified, manufactured at scale and operated at prices that draw routine customers.
As commercial deployments have taken longer than initially expected, companies across the sector have increasingly looked to military, cargo and other government applications that could provide nearer-term demand and funding.
Archer last month unveiled a jointly developed autonomous vertical-takeoff-and-landing aircraft platform with defense technology company Anduril at the Farnborough Airshow, aimed at both commercial and military applications.
As part of the deal, Boeing and Archer will establish a collaboration and technology-sharing pact that preserves Boeing's access to Wisk's core autonomous-flight technology for use across its current and future commercial and defense aircraft programs.
Boeing will receive Archer shares equal to 19.75% of Archer's outstanding Class A stock at closing, subject to adjustments for Wisk's cash, debt and transaction expenses.
Boeing will also receive two warrants to buy up to $200 million of Archer stock, exercisable over the one- to four-year period following the deal closure.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Maju Samuel and Shailesh Kuber)
