Joby Aviation has signed a definitive agreement to acquire the urban air mobility passenger business of Blade Air Mobility, a move aimed at advancing the commercialisation of electric air taxis.
Joby will compensate Blade with stock or cash, up to $125m, contingent on customary indemnity provisions and performance milestones.
The acquisition encompasses all of Blade's passenger operations in the US and Europe, along with the Blade brand, but excludes Blade's Medical division.
The deal is anticipated to close in the coming weeks, pending the fulfilment of standard closing conditions.
The transaction will see Joby leverage Blade's urban air mobility operations while maintaining a partnership for medical transportation services.
Joby will become the preferred vertical take-off and landing (VTOL) partner for Blade's organ transport business, which will be rebranded as Strata Critical Medical.
Following the acquisition, Blade's operations will continue under the leadership of its founder and CEO, Rob Wiesenthal, as a wholly-owned subsidiary of Joby.
Wiesenthal said: “Blade was founded with the mission of democratising short-distance air travel by facilitating the transition from conventional rotorcraft to quiet, emissions-free electric aircraft, and I believe there is no better partner than Joby to make that mission a reality.”
The acquisition grants Joby immediate access to key urban markets, particularly in New York City and Southern Europe.
It will also enable Joby to merge its cutting-edge technology with Blade's ten years of experience in providing premium transportation services at scale, as the company plans to commence passenger operations in Dubai next year.
In 2024, Blade successfully transported more than 50,000 passengers through a network of 12 urban terminals located in major air mobility markets.
These include dedicated facilities at John F. Kennedy International Airport, Newark Liberty Airport, and various locations in Manhattan.
Joby aims to utilise Blade's existing infrastructure to transition a loyal customer base from traditional helicopter services to its next-generation aircraft.
Joby's ElevateOS software, designed for efficient air taxi operations, will also be integrated into Blade's systems to improve cost efficiency and passenger experience.
Joby Aviation founder and CEO JoeBen Bevirt said: “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.
“Over the last decade, Rob and the team at Blade have built a world-class passenger experience that demonstrates the value of vertical lift.”
In June this year, Joby announced a partnership with Flexcompute to advance the development of its next-generation eVTOL aircraft utilising Flexcompute's leading solver, Flow360.
