Boeing Company (NYSE:BA) shares are trading higher by about half a percent on Monday as investors digest aerospace and defense portfolio news tied to its autonomy-focused subsidiaries.
What Is Boeing’s Catalyst with Archer Acquisition?
Archer Aviation (NYSE:ACHR) is acquiring Boeing’s Wisk Aero, Insitu, and SkyGrid subsidiaries, while Boeing is also set to invest in Archer and collaborate going forward.
Archer CEO Adam Goldstein called the deal "a watershed moment" aimed at building a "diversified platform" and scaling revenue.
Also, Boeing and Archer are entering into a collaboration and technology-sharing agreement as part of the transaction, allowing Boeing to retain access to Wisk’s core autonomous flight technology for its existing and next-generation commercial and defense aircraft.
