Archer Aviation Inc. (ACHR) shares surged 5.14% in pre-market trading on Thursday, following the company's announcement that it has won a bid to acquire rival Lilium's portfolio of about 300 advanced air mobility patent assets. The deal, valued at 18 million euros ($20.91 million), significantly expands Archer's intellectual property holdings, bringing its total patent assets to over 1,000.

This strategic acquisition strengthens Archer Aviation's position in the competitive air taxi market. By securing Lilium's patent portfolio, Archer gains access to valuable intellectual property that could accelerate its technological development and potentially provide a competitive edge in the emerging urban air mobility sector.

The pre-market rally suggests that investors are optimistic about the potential impact of this acquisition on Archer's future prospects. As the air taxi industry continues to evolve, Archer's expanded patent portfolio could play a crucial role in shaping the company's growth and market position. However, it remains to be seen how this intellectual property acquisition will translate into practical advancements in Archer's air taxi development and commercialization efforts.