Archer buys former rival Wisk Aero
The two companies were once embroiled in a trade secret theft lawsuit. Now, Wisk is being absorbed into Archer.
Archer Aviation has acquired its former rival, Wisk Aero, in a deal that marks a significant turning point in their once-bitter relationship. The acquisition comes three years after Archer and Wisk settled a trade secret lawsuit, with Boeing selling Wisk Aero and two other subsidiaries to Archer in exchange for an ownership stake.
The other subsidiaries involved in the transaction are SkyGrid, a digital airspace and air traffic management software company, and drone maker Insitu. This acquisition follows the initial settlement in 2021, where Archer agreed to make Wisk the exclusive provider of autonomous technology and granted Wisk the option to purchase up to 13,176,636 shares of Archer's common stock.
The deal is seen as a capstone to the two companies' collaboration, with Archer continuing to expand its eVTOL program and Wisk Aero now focusing on electric, self-flying air taxis.
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