Insider Brief
- Neo Space Group has announced its agreement to acquire UP42, a geospatial data platform launched by Airbus Defence and Space.
- UP42 offers a cloud-based platform that provides access to data and analytics from more than 80 global geospatial companies.
- The acquisition builds on NSG’s recent expansion in the geospatial sector, including its earlier acquisition of Taqnia ETS. NSG plans to integrate UP42 into its growing geospatial division, aligning with its strategy to drive innovation and expand Earth observation (EO) services.
Neo Space Group (NSG), a company owned by Saudi Arabia’s Public Investment Fund (PIF), has announced its agreement to acquire UP42, a geospatial data platform launched by Airbus Defence and Space in 2019. The transaction is subject to regulatory approvals and other standard closing conditions.
UP42 offers a cloud-based platform that provides access to data and analytics from more than 80 global geospatial companies. Its streamlined interface enables customers to address challenges in agriculture, urban planning, disaster management, infrastructure monitoring, and more. By integrating diverse geospatial data sources, UP42 simplifies data management and analysis for various industries.
The acquisition builds on NSG’s recent expansion in the geospatial sector, including its earlier acquisition of Taqnia ETS. NSG plans to integrate UP42 into its growing geospatial division, aligning with its strategy to drive innovation and expand Earth observation (EO) services.
Anup Gholap, Space Analyst at Space Insider, noted, “Neo Space Group (NSG) was formed earlier this year and has already made swift progress, completing its second acquisition in just three months. In September 2024, the company acquired Taqnia Space.”
Martijn Blanken, CEO of Neo Space Group, stated that adding UP42 to Saudi Arabia’s ecosystem will enable the company to deliver advanced geospatial insights. He emphasized the role of the acquisition in supporting Saudi Vision 2030, which aims to diversify the economy and strengthen the nation’s position in the global space industry.
In July 2024, Saudi Arabia’s Communications, Space, and Technology Commission (CST) granted NSG a permit to provide EO platform services in the country. The acquisition of UP42 is expected to enhance these capabilities while contributing to developing a robust EO ecosystem in Saudi Arabia.
Sean Wiid, CEO of UP42, expressed enthusiasm about the acquisition, noting its potential to support NSG’s ambition to lead global geospatial innovation. He highlighted the opportunity to bolster Saudi Arabia’s EO capabilities, benefiting sectors such as government, agriculture, energy, travel, and tourism.
Image credit: NSG
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