Archer Accelerates Defense Program with Two Strategic Acquisitions as it Pursues Growing Demand
- Archer announced today two strategic acquisitions to accelerate the development of its next-generation defense aircraft
- These acquisitions build on Archer鈥檚 prior announcement of a strategic partnership with Anduril to co-develop hybrid, autonomous VTOL military aircraft
- One of the acquisitions is of a patent portfolio and hiring of key talent from Overair, a spin-off of Karem Aircraft
-
The other is the acquisition of key composite manufacturing assets and a ~60,000 square foot manufacturing facility from Mission Critical Composites, a specialized defense composite manufacturer in
Southern California -
These acquisitions come on the heels of strong industry momentum with the announcement of a budget request allocation by the Pentagon of
$13.4B
Archer鈥檚 recently acquired composite manufacturing facility in
These acquisitions build on Archer鈥檚 December 2024 announcement of a with Anduril to co-develop hybrid, autonomous VTOL military aircraft鈥攆ollowed by
Since that announcement, Archer continues to see growing demand from major allied defense programs worldwide.
To help meet that demand, Archer acquired a patent portfolio and hired critical employees from Overair, a spin-off of Karem Aircraft. Karem Aircraft developed and manufactured advanced fixed-wing and rotary-wing aircraft focused on the use of high-efficiency tiltrotors.
Archer also acquired key composite manufacturing assets and an approximately ~60,000 square foot manufacturing facility from Mission Critical Composites, a specialized defense composite manufacturer in
Both acquisitions come on the heels of strong industry momentum with the of a budget request allocation by the Pentagon of
Adam Goldstein, founder and CEO of Archer said, 鈥淭he Administration has made it clear: Leading in advanced aviation in both commercial and defense is a national priority. These acquisitions are part of our commitment鈥攚e鈥檙e working to accelerate our product development to meet our country鈥檚 needs.鈥�
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Forward-Looking Statements
This press release contains forward looking statements regarding Archer鈥檚 future business plans and goals, including statements regarding the anticipated benefits of our recent acquisitions, market opportunities and industry demand, projected government budget and military spending, its plans with respect to its strategic partnership with Anduril, whether the parties鈥� aircraft will be selected for any government program, and Archer鈥檚 planned use of its capital. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer鈥檚 filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, available at . In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events.
Source: Archer
Text: ArcherIR
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