Joby Aviation Acquires Resonant Sciences to Scale Defense Business
JOBY sits 34% above its 52-week low of $6.63.
Summary
Joby Aviation is acquiring Resonant Sciences for about $500 million, a move to scale its defense business. The deal adds a new revenue vertical beyond commercial air taxis, leveraging Joby's eVTOL technology for military applications. This follows the recent Toyota manufacturing JV and Virgin Atlantic partnership, signaling aggressive diversification. The acquisition aligns with growing DoD interest in electric vertical takeoff and landing aircraft.
At the time of this announcement, JOBY was trading at $8.86 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $6.63 to $19.98. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.