Archer Aviation said on 7 August that it has acquired Overair’s patent portfolio and key engineering staff, as well as a 60,000-square-foot manufacturing site from Mission Critical Composites, to accelerate development of its next-generation electric aircraft for military customers. The company described the twin deals as strategic steps to expand intellectual property, secure specialized talent and add production capacity at a time when U.S. defense agencies are seeking quieter, more agile aircraft for logistics and reconnaissance missions. Financial terms were not disclosed.
Archer Accelerates Defense Program with Two Strategic Acquisitions as it Pursues Growing Demand https://t.co/Mc00jlqNrD https://t.co/KjU0UiRCec
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Just in: Archer Aviation $ACHR announces two strategic acquisitions to boost its next-gen defense aircraft development. Acquires Overair's patent portfolio and talent, plus a 60,000 sq ft facility from Mission Critical Composites.