Boeing to divest tech ventures for stake in air-taxi startup
Boeing announced an agreement Monday to divest its air taxi and two other technology ventures to Archer Aviation for a stake in the startup.
The transaction shifts to Archer Boeing’s Wisk autonomous aircraft venture and SkyGrid and Insitu businesses for the equity and warrants for additional potential stock purchases in California-based Archer.
Shares of Archer surged on the announcement, which caps Boeing’s potential stake at just under 20 percent.
