JOBY moves to acquire Blade's passenger business for up to $125 million, aiming to scale urban air mobility and cut costs.

Electric taxi maker Joby Aviation (NYSE:JOBY) confirmed intentions to acquire Blade Air Mobility's (NASDAQ:BLDE) passenger business for up to $125 million, payable in Joby stock or cash. This acquisition includes Blade's US and European passenger operations,

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.