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Neo Space Group (NSG), a company owned by the Public Investment Fund, has signed an agreement with Airbus Defence and Space (Airbus) to acquire its UP42 business, a modern earth observation digital platform. This acquisition is crucial for NSG’s goal of leading innovation in the geospatial industry locally and globally, as well as contributing to the growth of the space economy in Saudi Arabia. UP42, launched by Airbus in 2019, simplifies access to and analysis of geospatial data through a cloud-based platform. The deal is subject to standard closing conditions and regulatory approvals. UP42 will become part of NSG’s expanding geospatial division, offering customers access to data and analytics from various geospatial companies to address real-world challenges in sectors like agriculture, urban planning, and disaster management. Martijn Blanken, NSG’s CEO, highlighted the strategic importance of integrating UP42 into the Saudi Arabian ecosystem to provide cutting-edge geospatial insights and support the country’s economic growth. The acquisition aligns with Saudi Vision 2030 and reinforces NSG’s role in providing Earth Observation services in Saudi Arabia. Sean Wiid, CEO of UP42, emphasized the opportunity to contribute to global geospatial innovation and develop a strong Earth observation ecosystem within Saudi Arabia.

Person: Martijn Blanken, Sean Wiid

Company Names: Neo Space Group (NSG), Airbus Defence and Space (Airbus)

Titles: UP42, Saudi Vision 2030, Earth Observation (EO) Platform Service, Communications, Space, and Technology Commission (CST)

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