Joby, which develops electric air taxis, will purchase the Blade brand and Blade’s passenger air-taxi business using stock or cash. Under the deal, Blade’s passenger business will operate as a wholly-owned subsidiary of Joby led by Blade CEO Rob Wiesenthal and continue operations as normal.

Joby is buying the Blade brand and the company's passenger business, which includes operations in the United States and Europe, for as much as $125 million.