Joby to buy Resonant Sciences for $500 million

Military drone aircraft on tarmac symbolizing JOBY $500M defense acquisition expansion

Key Points

01Joby Aviation (JOBY) agrees to acquire defense tech firm Resonant Sciences for about $500 million
02Deal structure combines roughly $450 million in cash with $50 million in Joby stock
03Closing is targeted for the first half of 2027, pending regulatory reviews
04Resonant will become Joby’s dedicated defense unit under existing leadership

Joby Aviation outlines $500 million Resonant deal

Joby Aviation (JOBY) has signed a definitive agreement to acquire Dayton, Ohio-based defense technology company Resonant Sciences in a transaction valued at approximately $500 million. The consideration is expected to include about $450 million in cash and $50 million in Joby common stock, with the stock portion priced at a level fixed at the time of signing. The companies have framed the agreement as a step toward combining Joby’s existing defense activities with Resonant’s established business.

The transaction remains subject to customary closing conditions, including applicable regulatory reviews. Both parties expect the deal to close in the first half of 2027, setting a multi-year timeline before full integration. Until closing, the firms will continue to operate separately.

Financial profile and operations of Resonant Sciences

Resonant Sciences reported more than $100 million in trailing-twelve-month revenue, reflecting about 40% year-over-year growth. The company has also generated positive adjusted EBITDA in recent periods, indicating that its operations have been profitable on that basis. This financial profile positions Resonant as a revenue-generating business within Joby’s broader portfolio upon completion of the acquisition.

The defense technology firm employs roughly 250 people in the Dayton/Beavercreek, Ohio area. Its existing footprint and workforce will be maintained, with the company set to continue operating under the Resonant Sciences name. Co-Founder and CEO J. Micah North is expected to remain in his leadership role following the closing of the deal.

Post-closing structure and strategic focus

After the transaction closes, Joby plans to consolidate its existing defense initiatives into Resonant, designating it as the company’s dedicated defense business. This structure will give Joby a separate unit focused specifically on defense-related work, leveraging Resonant’s capabilities and customer relationships. The continued use of the Resonant brand and management team is intended to preserve continuity in the defense segment.

Joby’s commercial aircraft organization will remain focused on certifying, manufacturing, and commercializing its electric air-taxi products. By separating defense and commercial operations into distinct units, the company aims to maintain a clear focus for its air-taxi development while expanding its presence in the defense technology sector through the acquired business.

Key Takeaways

01The acquisition introduces a sizable, profitable defense operation into Joby’s portfolio, adding immediate revenue scale alongside its developing air-taxi business.
02Structuring the consideration as mostly cash with a fixed-price stock component defines clear financial terms while limiting uncertainty around equity value at closing.
03Maintaining Resonant’s leadership and brand signals an intention to preserve its existing operations while using it as the core of Joby’s future defense activities.

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