Blade Air Mobility sold its passenger/UAM division to Joby Aviation, shifting focus and rebranding as Strata Critical Medical. Read the latest BLDE stock analysis here.

Joby Aviation is buying Blade Air Mobility's urban air taxi business for up to $125 million, giving it a base of loyal passengers as it begins to gradually replace conventional helicopters with quieter electric air taxis.

Joby Aviation will acquire helicopter ride-share company Blade Air Mobility's passenger business for up to $125 million, Joby said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services.