Mr Wills has been gliding in the Omarama area for 38 years and has more than 10,000 hours' flying experience. He established GlideOmarama in 1998.
Mr Wills said the aim of the purchase was to develop "a centre of excellence for gliding" at Omarama.
"With the two operations working together in such a magnificent soaring environment, this will rapidly become a reality," he said.
The two companies' brands would be retained. GlideOmarama would operate the soaring school and Southern Soaring flights for visitors.
Most of Southern Soaring's staff had been retained. Mr Wills would remain as managing director but, along with director "G" Dale, would focus on the soaring school operations.
The school would continue with mountain soaring courses, but expand its learn-to-fly, post-solo and cross-country courses to offer all levels of gliding instruction.
Most courses would continue on a one-on-one basis, but this year for the first time exclusive courses would be offered.
Southern Soaring would continue to offer trial flights to introduce visitors to gliding, but would also offer long flights for visiting glider pilots.
There would also be a pilot shop and information centre to explain gliding to tourists and outline the 50-year history of the sport at Omarama.
Southern Soaring was owned by Les and Irene Lamb and Chris Rudge.
