Archer Aviation Inc.
(NYSE:ACHR) shares are trading higher Tuesday on continued strength after the company announced definitive agreements to acquire Boeing's Wisk Aero, SkyGrid, and Insitu subsidiaries.
Archer Posts Q2 Earnings, Announces Deal With Boeing Archer and Boeing signed definitive agreements on Monday in which Archer will acquire Boeing's Wisk Aero, SkyGrid and Insitu subsidiaries, creating an end-to-end physical AI platform for aerospace and defense.
Archer said the deal is a "watershed moment" for the future of physical AI in aerospace and defense.
Archer CEO Adam Goldstein provided some additional commentary in the company's quarterly report, calling the deal an "important inflection point for Archer," noting that the planned acquisitions, combined with the company's recent unveiling of Halo, ZEE and ACES, position Archer to "rapidly advance" its diversified, multi-platform strategy across air taxis, UAS and AI.
