- Neo Space Group fully acquires Earth observation platform UP42 from Airbus.
- The deal strengthens Saudi Arabia’s position in the global space industry and aligns with Vision 2030.
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UP42 will maintain its current services while expanding and enhancing its geospatial analytics capabilities.
Neo Space Group (NSG), a Public Investment Fund (PIF)-owned company and the Kingdom’s leading commercial space services provider, has officially completed its acquisition of UP42, a global Earth observation (EO) platform previously owned by Airbus Defence and Space. Following the initial announcement in December 2024, UP42 has now become a fully integrated part of NSG’s growing space ecosystem.
The acquisition significantly enhances NSG’s capabilities in satellite imaging and Earth observation, positioning the company to serve global markets and accelerate the development of UP42 as a next-generation geospatial analytics platform.
Martijn Blanken, CEO of Neo Space Group, stated:
“This acquisition reflects our deep commitment to advancing the space sector and delivering data-driven solutions that support critical industries in Saudi Arabia and across the globe.”
Meanwhile, Sean Wiid, CEO of UP42, assured that current services and customer commitments will remain unchanged. He added:
“This partnership strengthens our mission to democratize access to Earth observation data and advanced analytics, empowering our clients to tackle complex global challenges and create meaningful impact.”
This strategic move aligns with Saudi Arabia’s Vision 2030 objectives, contributing directly to the localization of advanced space technologies, the expansion of national space infrastructure, and the rapid growth of the Kingdom’s commercial space economy.
Founded in May 2024, Neo Space Group (NSG) is a national space company focused on satellite services, Earth observation, and space technology investment. The company also operates a venture capital arm that invests in satellite and space innovation globally.
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