Riyadh, Saudi Arabia – Neo Space Group (NSG), a company owned by the Public Investment Fund (PIF) and Saudi Arabia’s leading provider of commercial space services, has announced the acquisition of Airbus Defence and Space’s UP42 business, a next-generation Earth observation (EO) digital platform. This acquisition is subject to customary closing conditions and regulatory clearances.
Launched in 2019 in Berlin, Germany, UP42 is a pioneering platform that simplifies access to and analysis of geospatial data via a cloud-based interface. As part of NSG’s expanding Geospatial division, this acquisition follows NSG’s earlier purchase of Taqnia ETS, enhancing its ability to provide customers with access to data and analytics from over 80 of the world’s top geospatial companies. The platform will allow users across various sectors—such as agriculture, urban planning, real estate, infrastructure monitoring, and disaster management—to tackle real-world geospatial challenges efficiently.
Martijn Blanken, CEO of NSG, commented: “Integrating the UP42 platform into Saudi Arabia’s ecosystem positions NSG to deliver cutting-edge geospatial insights to one of the fastest-growing economies globally. This acquisition aligns with our vision to lead geospatial innovation both locally and internationally, contributing to Saudi Arabia’s space economy and Vision 2030.”
NSG’s role in the Earth observation sector was further solidified earlier this year when the Communications, Space, and Technology Commission (CST) of Saudi Arabia granted NSG the permit to operate the Earth Observation Platform Service in the country.
Sean Wiid, CEO of UP42, stated: “Joining NSG represents an exciting opportunity for UP42. Our continued international growth will contribute to NSG’s ambition of becoming a global leader in geospatial innovation while developing a robust Earth observation ecosystem in Saudi Arabia to benefit sectors such as government, agriculture, energy, and tourism.”
Launched in May 2024, NSG was established with the mission to lead the satellite and space industry globally. By fostering national expertise and enhancing Saudi Arabia’s global position in the space sector, NSG aims to drive economic diversification and support Vision 2030.
About NSG:
NEO SPACE GROUP (NSG) is a global space and satellite services company based in Saudi Arabia, offering a wide range of services including satellite broadband communications, Earth observation, geospatial analysis, satellite navigation, and IoT. As a Public Investment Fund (PIF) company, NSG is instrumental in advancing Saudi Arabia’s Vision 2030 goals for innovation, economic diversification, and job creation.
About UP42:
UP42 is a next-generation Earth observation platform that simplifies how organizations access, manage, and analyze geospatial data. Launched in 2019, UP42 enables users to easily source and process satellite imagery and geospatial data, empowering them to create tailored solutions. UP42 was founded by Airbus in Berlin.
