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.

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.