Saudi acquisition of UP42 to enhance Earth monitoring capabilities
The New Space Group (NSG), one of the public investment fund companies and the pioneering commercial provider of space services in the Kingdom of Saudi Arabia, has announced the completion of its full acquisition of UP42, the leading global platform in the field of land control (EO), which was previously owned by Airbus Defense and Space. The acquisition, which was initially announced in December 2024, to enhance the status of a New Space Group at the global level in the spatial geography sector, as it contributes to accelerating the pace of innovation and growth of UP42 to serve its customers and partners around the world. For space: "We are very enthusiastic to officially welcome UP42 in our group. It is a pivotal moment that enhances our position as one of the pioneers in the field of spatial geography. We are committed together to push this sector forward, and to provide effective solutions that support business and serve vital industries in the Kingdom of Saudi Arabia and around the world"
Sean Wilde, CEO of UP42, expressed his aspirations for the next stage: "It is a very new and exciting stage in the UP42 career. As part of the New Space Group, we are enhancing our commitment to continuity and expanding the scope of our services, partnerships and spatial geographical products. Our services will remain the same, and this integration supports our mission to facilitate access to land monitoring data and analyze them on a large scale, which helps our customers solve complex problems and achieve a positive global impact".
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