Joby Aviation builds out defense business with $500M acquisition
Joby Aviation reached an agreement to acquire Resonant Sciences, which will kick off its new defense business.
Joby Aviation has acquired Resonant Sciences for $500 million in cash and stock, expanding its presence in the defense industry. The Ohio-based Resonant Sciences specializes in radio frequency and sensor systems, which will form the basis of a dedicated defense business under Joby. J. Micah North, Resonant Sciences' co-founder and CEO, will lead this new division, integrating Joby's defense projects, including turbine-electric and hydrogen-electric aircraft development and autonomy technology.
This move allows Joby Aviation to focus on certifying, manufacturing, and launching its electric air taxi network, while generating revenue through Resonant Sciences' trailing 12-month revenue of $100 million and classified government programs access.
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