Joby Aviation Acquires Resonant Sciences for $500M to Bolster Defense Business
Joby Aviation is acquiring Ohio-based Resonant Sciences for $500 million to expand its presence in the defense sector. The move aims to integrate Resonant's radio frequency and sensor systems into Joby's defense projects.
Key takeaways
- Joby Aviation is acquiring Resonant Sciences for $500 million to expand its defense business.
- Resonant Sciences, which generates $100 million in annual revenue, will lead Joby's new defense division.
- The acquisition aims to integrate Resonant's radio frequency and sensor technology into Joby's defense projects.
- This move allows Joby Aviation to focus on certifying and launching its electric air taxi.
Joby Aviation has entered into an agreement to acquire Resonant Sciences for $500 million, a transaction comprised of cash and stock. This acquisition represents Joby's continued effort to strengthen its position within the defense industry.
What Happened
Ohio-based Resonant Sciences, a company specializing in radio frequency and sensor systems, will be integrated into Joby Aviation to form a dedicated defense business. J. Micah North, co-founder and CEO of Resonant Sciences, is slated to lead this new division. The division will encompass Joby's existing defense initiatives, including the advancement of turbine-electric and hydrogen-electric aircraft, as well as autonomy technology.
This strategic integration is intended to allow the broader Joby Aviation organization to concentrate on the certification, manufacturing, and deployment of its electric air taxi. Joby, primarily known for its development of electric urban air taxis for short-distance transport of people and goods, has been increasingly focused on defense-related activities over the past two years.
Last year, Joby partnered with defense contractor L3Harris Technologies to explore opportunities for developing a new aircraft class. This class includes a gas-turbine hybrid vertical take-off and landing (VTOL) aircraft capable of autonomous flight, which would be based on Joby's S4 aircraft platform.
The company has previously demonstrated a hydrogen-electric hybrid version of its aircraft, which achieved a flight distance of 521 miles under a government contract in 2024, significantly exceeding the range of its battery-electric prototype. Resonant Sciences brings established revenue streams, having reported $100 million in trailing 12-month revenue, and possesses access to classified U.S. government programs. Its technology is also seen as complementary to Joby's electric vertical takeoff and landing (eVTOL) aircraft.
This acquisition follows a precedent set by Joby in leveraging acquisitions for revenue generation. The company previously purchased Blade Air Mobility’s helicopter rideshare business for approximately $125 million in the prior year. That acquisition provided Joby with immediate access to a network of terminals in major markets, including New York City, and contributed significantly to its reported revenue. In the second quarter, Joby reported $38.6 million in revenue, with $36.2 million attributed to the Blade acquisition.
Background
The development, certification, and mass production of eVTOLs are complex and time-consuming endeavors. Joby Aviation, which became a public company in 2021 through a merger with a special purpose acquisition company, has sought to assure investors by securing more immediate revenue sources. The acquisition of Resonant Sciences aligns with this strategy by integrating a revenue-generating business and advancing its defense sector capabilities.
Key Facts
- Joby Aviation agreed to acquire Resonant Sciences for $500 million in cash and stock.
- Resonant Sciences, based in Ohio, develops radio frequency and sensor systems.
- Resonant Sciences reported $100 million in trailing 12-month revenue.
- Resonant Sciences has access to classified U.S. government programs.
- J. Micah North, CEO of Resonant Sciences, will lead Joby's new dedicated defense business.
- Joby Aviation previously acquired Blade Air Mobility's helicopter rideshare business for approximately $125 million.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
Related stories
Mumbai Thieves Used WhatsApp Codes for Pickpocket Syndicate
Nvidia to Mobilize Over $500 Billion for AI Infrastructure with Wall Street Partners
Saudi Arabia Deploys Portable Cameras for Restaurant Inspections
