Overview

• The company confirmed it won a competitive bid to acquire roughly 300 advanced air mobility patent assets from Lilium Aerospace.
• Archer will pay €18 million, equivalent to about $20.95 million, for the intellectual property.
• The portfolio covers high-voltage systems, battery management, flight controls, advanced aircraft design, electric engines, propellers and ducted fans.
• Archer cites Lilium’s reported $1.5 billion in prior R&D and says the technologies could help unlock future light-sport and regional development.
• Shares initially surged on the news before easing, with the stock up 0.11% at $13.05 at the time of publication.