Joby Aviation to Buy Resonant Sciences for $500 Million
Joby Aviation said that it will acquire defense technology company Resonant Sciences for approximately $500 million, as the electric aircraft maker seeks to expand its presence in the growing defense market.
Electric vertical takeoff and landing (eVTOL) companies are increasingly turning toward military applications as commercial development has taken longer than expected and global defense spending has risen amid conflicts in Ukraine and the Middle East.
Joby said it will continue developing its commercial air taxi eVTOL while transferring its defense programs, including hybrid and autonomous vertical takeoff and landing projects, under Resonant Sciences.
Based in Dayton, Ohio, Resonant designs, manufactures and delivers advanced radio-frequency and mission systems for U.S. national security customers. Its technologies enable aircraft to detect, communicate and operate in complex environments, Joby CEO JoeBen Bevirt says.
The acquisition will allow Joby’s commercial team to remain focused on its air taxi business while potentially creating new opportunities by combining Resonant’s defense technologies with Joby’s aircraft platforms, Bevirt said.
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Shares of Joby, which is based in Santa Cruz, California, fell 6.5% in premarket trading following the announcement.
Joby expects to finance the transaction with approximately $450 million in cash and $50 million worth of its common stock. The deal is expected to close in the first half of 2027, subject to customary closing conditions.
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Following the acquisition, the combined company will have approximately 1 million square feet of manufacturing, integration and testing facilities across the Dayton region. Resonant will become Joby’s dedicated defense business and will oversee its hybrid aircraft and autonomy technologies.
Meanwhile, Joby’s commercial aircraft division will remain focused on developing and advancing its electric air taxi initiatives.
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The acquisition underscores the growing convergence between advanced aviation and defense technology, as eVTOL companies seek additional applications for their aircraft and autonomous systems while commercial air taxi markets continue to develop.