Mentioned:
ACHR -13.17% JOBY -14.27%
Archer is getting serious about defense tech. Which is exactly why they’re making two new acquisitions.
What’s happening:
- Archer (NYSE: ACHR) is acquiring a patent portfolio from Overair and a commercial scale manufacturing facility located in California from Mission Critical Composites
Why it matters:
- Archer has publicly stated the new acquisitions are part of their new focus to be a leader in defense tech and combat
Going deeper:
- Both of the new acquisitions are specifically focused on scaling up Archer’s technology and manufacturing capabilities for advanced aircrafts and autonomous systems
- This is not the first time Archer has made a bet on defense, previously making waves when they formed a notable partnership with Anduril to develop entirely new types of hybrid powered vertical takeoff and landing aircraft for military purposes
The intrigue:
- Electric vertical takeoff and landing company Joby Aviation also just recently made a major push into defense tech with a new partnership with defense contracting giant L3Harris (NYSE: LHX) to develop a new type of hybrid vertical takeoff and landing aircraft for combat
The fine print:
- Financial terms of both acquisitions have not yet been publicly announced by Archer
