Thomas Gnau: JUST IN: Joby Aviation acquires Beavercreek’s Resonant Sciences in $500M deal
Article excerpt
Joby Aviation, the California company that plans to make electric flying taxis in Vandalia and Dayton, is acquiring a Beavercreek defense contractor, Resonant Sciences, in a deal valued at approximately $500 million. The acquisition will represent a significant expansion of Joby's defense business. The investment also strengthens ties between Joby and the Dayton area. Resonant Sciences has about 250 Dayton-area employees, most of them in Beavercreek. "This gives us more than a million square feet in Dayton," Joby founder and Chief Executive JoeBen Bevirt told the Dayton Daily News in an exclusive interview. How Joby is building its air taxi company in Dayton with workers who are 'production heroes' Resonant "brings classified infrastructure, qualified products, established production operations and longstanding customer relationships, as well as a deeply experienced technical team," Joby said in an announcement. "By bringing together the companies' complementary aerospace engineering capabilities, the combination will create a scaled defense growth platform that accelerates autonomy and expands the applications for Joby's technology." Resonant Sciences has shown "a real focus on developing game-changing technologies. We think there are huge synergies between the technologies that Joby has developed and the technologies that Resonant has developed," Bevirt said. More than 90%...
Keep reading with a free account
The rest of this article, and every signal for Joby Aviation, is in your free account.
Extracted from this sentence
Resonant Sciences founder and Chief Executive J. Micah North will run Joby's defense efforts.
