Boeing has agreed to take a minority stake in Archer Aviation in a deal that transfers control of its flying-taxi venture, Wisk Aero. As part of the agreement, Archer will acquire Wisk, as well as drone maker Insitu and air-traffic software provider Sky Grid from Boeing.

Boeing is slated to take a nearly 20% stake in Archer and receive warrants in the company, while retaining access to Wisk’s autonomous-flight technology. The plane maker will also be permitted to nominate a director to Archer’s board.

California-based Archer, which had a market value of more than $4 billion as of Friday, expects the sale to close by the end of 2026. Archer Chief Executive Adam Goldstein stated that the deal diversifies the company’s revenue base and brings scale to the business.