Blade operates helicopter and seaplane flights for passengers.
Blade flew more than 50,000 passengers last year from a dozen urban terminals in some of the biggest cities, Joby said in an announcement, including bases at John F. Kennedy International Airport and Newark Liberty Airport, as well as Manhattan.
“This is a strategically important acquisition that will support the successful launch of Joby’s commercial operations in Dubai, our subsequent global rollout and our continued leadership in the sector,” said JoeBen Bevirt, founder and chief executive of Joby Aviation.
The deal will require up to $125 million in stock or cash. The transaction involves the passenger business in the U.S. and Europe as well as the Blade brand.
Blade is also a transporter of human organs. Blade’s medical division, which was not included in the deal and will remain a separate public company, will partner with California-based Joby on medical transportation, Joby said.
“We’re actively standing up an initial capability to build and test critical components that will support the delivery of aircraft in Marina (Calif.) with more manufacturing capacity, and our first Ohio-based team members are currently in Marina undergoing training,” the spokesman said.
Shares of Joby (NYSE) were trending up in pre-market trading Monday. The stock has a 52-week range of $4.66 to $18.55.
Joby leaders are scheduled to report second quarter results Wednesday afternoon.
About the Author
