Joby is buying a stealth-technology firm for $500m, and rebuilding its defence arm around it

Joby Aviation has agreed to buy Resonant Sciences, a Dayton, Ohio radar and low-observability specialist, for about $500m, in the largest acquisition the electric air taxi company has made and the clearest signal yet of where it expects its near-term revenue to come from.

The structure is $450m in cash and roughly $50m in Joby common stock priced at signing, with some Resonant employee-shareholders taking equity so they retain an interest in the combined business.

There is no earnout, which is worth noting because headline figures on deals this size often bundle one. The seller is Cerberus Capital Management, which invested in Resonant in 2023. Closing is expected in the first half of 2027, subject to regulatory review.

Founded in 2015, it employs about 250 people across Ohio, Virginia, West Virginia, Michigan, Colorado, and North Carolina, and designs radio-frequency and mission systems: advanced apertures, electromagnetic measurement, electronic countermeasures, instrumentation radars,...

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