Wisk Aero; Others Acquired By Archer Aviation Some big news emerged recently in the eVTOL space with Archer announcing that it will acquire Wisk Aero. Wisk Aero was a Boeing backed entity and naturally a competitor. Archer is not only acquiring Wisk but also airspace management software entity SkyGrid and defense drone company Insitu.
Responding to the acquisition steps Archer founder and CEO Adam Goldstein said that the transaction was essentially “a watershed moment” for the company and a step forward in allowing the company to “becoming a diversified platform.” Boeing v-p of commercial airplanes product development Brian Yutko, who ran Wisk before taking his current job, described it as “a win-win,” saying it lets Boeing recover value from two decades of investment while it concentrates on its core businesses.
The move is interesting considering that Wisk sued Archer Aviation for trade secret theft back in 2021. They have now gone from rivals to corporate associates. Archer was also involved in court with Vertical Aerospace earlier this year contending patent infringement on the part of Vertical. Archer Aviation is no stranger to rubbing shoulders with competitors in and out of the court.
Under an equity purchase agreement signed on Sunday, Boeing receives a block of stock equal to 19.75% of Archer’s Class A shares outstanding immediately before the deal closes, according to the Form 8-K that the San Jose, California-based company filed on Monday. The deal, expected to close by year-end, has an estimated value of about $1 billion. For more information: Archer Aviation 190 W Tasman Dr, San Jose, CA 95134, United States www.archer.com ***
