The Neo Space Group (NSG), a company owned by PIF and the top space service provider in the Kingdom, has fully bought UP42. UP42 is an Earth Observation (EO) platform that used to belong to Airbus Defence and Space.
After the first announcement in December 2024, UP42 has now officially joined the NEO Space Group system.
This purchase strengthens the New Space Group’s global presence in space monitoring.
It also helps UP42 grow faster to support many customers and partners worldwide.
Martijn Blanken, CEO of Neo Space Group, said the company is dedicated to growing this important field. They aim to provide valuable solutions that support businesses and key industries in Saudi Arabia and worldwide.
Sean Wilde, CEO of UP42, said that current services and promises to customers will stay the same.
He added that this merger helps them make Earth observation data easier to access and analyze, so customers can solve big problems and make a positive difference in the world.
This purchase helps Saudi Arabia reach its Vision 2030 goals by building stronger space systems, bringing advanced technology to the country, and supporting the growth of its space business.
Founded in May 2024, NEO Space Group (NSG) is a top Saudi company specializing in space, satellite services, and remote sensing. It also has a venture capital fund to invest in satellite and space projects.
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