● Covered by 2 sources · 2 reportsMedium impact2 neutral
Joby Aviation Acquires Resonant Sciences for $500 Million to Expand Defense Business
Key points
- Joby Aviation acquires Resonant Sciences for $500 million.
- Deal includes $450 million cash and $50 million equity.
- Resonant Sciences will become Joby's dedicated defense division.
- Acquisition expands Joby's involvement in the defense sector.
- Joby's commercial division will focus on air taxi development.
Acquisition Details
Joby Aviation announced the acquisition of Resonant Sciences, a defense firm based in Dayton, Ohio, for $500 million. The transaction is structured with $450 million in cash and $50 million in equity. The deal is expected to close in early 2027.
Strategic Expansion into Defense
This acquisition marks Joby Aviation's move to expand its presence in the military industrial complex. Resonant Sciences, known for its radio frequency and sensor systems, will operate as Joby's dedicated defense division. J. Micah North, co-founder and CEO of Resonant Sciences, will lead this new division.
The new defense division will absorb Joby's existing defense projects, including the development of turbine-electric and hydrogen-electric aircraft, and autonomy technology.
Focus on Air Taxi Development
By establishing a dedicated defense division, Joby Aviation's commercial division can concentrate on its core business: the certification, manufacturing, and launch of its electric air taxi network. The company anticipates launching its first air taxis later this year.
The electric aviation industry is increasingly exploring revenue streams beyond urban air taxis, with military contracts representing a significant opportunity due to rising costs and regulatory processes affecting air taxi development.
Background on Joby's Defense Efforts
Joby Aviation, primarily known for developing electric urban air taxis, has been pursuing defense opportunities for the past two years. Last year, Joby signed an agreement with defense contractor L3Harris Technologies to explore new aircraft classes, specifically gas-turbine and hydrogen-electric aircraft.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Joby Aviation acquired Resonant Sciences for $500 million in cash and stock to deepen its involvement in the defense sector. This acquisition establishes a dedicated defense division for Joby, allowing its core business to focus on certifying and manufacturing electric air taxis.
Joby Aviation is acquiring defense firm Resonant Sciences for $500 million, comprising $450 million in cash and $50 million in equity. This acquisition aims to strengthen Joby's defense sector involvement and integrate Resonant Sciences' radio frequency, sensing, and mission systems capabilities into Joby's electric aircraft technology.