An air-taxi startup just bought Boeing's drone business, and paid in its own stock

Archer Aviation is acquiring Boeing's Insitu, Wisk Aero and SkyGrid for equity rather than cash, picking up a Group 3 drone maker with $200 million in revenue and customers in 35 countries.

Archer Aviation has signed definitive agreements to acquire Boeing's Wisk Aero, SkyGrid and Insitu subsidiaries, the two companies announced on Monday. No cash price was disclosed.