Moog Inc. announced that the company has completed the purchase of SureFly assets and intellectual property associated with the hybrid powered vertical takeoff and landing (eVTOL) aircraft and electric propulsion technology from SureFly Inc. and their parent company, Workhorse Group Inc..

"The SureFly technology fits nicely into our technology roadmap, enabling us to advance capabilities at a greater pace in areas that influence our offerings to current and future customers in the aircraft, defense and industrial sectors," said Dave Norman, Director, Innovation and Technology for Moog's Aircraft Segment. "We are excited by the addition of engineering talent and technology that is focused on enabling safe, effective automation and electrification of vehicles."

Moog does not anticipate the acquisition of SureFly Inc. to have a material financial impact.

SureFly is a registered trademark of SureFly Inc., which has been assigned to Moog Inc.