Joby Aviation Deepens Defense Ties with Acquisition

Joby Aviation announced its agreement to acquire Resonant Sciences for $500 million in cash and stock. This acquisition marks Joby's intensified push into the defense sector. Resonant Sciences, based in Ohio and specializing in radio frequency and sensor systems, will be integrated as Joby's dedicated defense business. J. Micah North, co-founder and CEO of Resonant Sciences, will lead this new division, which will also absorb Joby's existing defense projects.

The establishment of this defense division aims to allow the broader Joby Aviation to concentrate on the certification, manufacturing, and launch of its electric air taxi. Joby, already known for its urban air taxi aspirations, has been increasingly public about its defense pursuits over the past two years. This includes a prior agreement with L3Harris Technologies to explore opportunities for autonomous, gas-turbine hybrid VTOL aircraft for defense applications.

The acquisition of Resonant Sciences is particularly strategic as it brings a profitable business to Joby, with Resonant Sciences reporting $100 million in trailing 12-month revenue and access to classified U.S. government programs. Resonant's technology also complements Joby's electric vertical takeoff and landing aircraft (eVTOLs). This acquisition follows a similar revenue-generation strategy seen when Joby acquired Blade Air Mobility's helicopter rideshare business last year for approximately $125 million.