Neo Space Group (NSG), Saudi Arabia’s leading commercial space services provider and a PIF company, has completed its acquisition of UP42 GmbH. UP42, a leading Earth Observation (EO) platform previously owned by Airbus Defence and Space GmbH, is now formally part of the NSG organization, following the initial announcement in December 2024.
This strategic acquisition significantly enhances the capabilities of both entities. NSG expands its market reach, deepens its technological expertise, and gains access to a wider array of geospatial assets. The transaction also enables UP42 to accelerate its international growth and drive global geospatial innovation, positioned to deliver stronger services to its rapidly growing customer base and expand its platform’s reach for partners.
This acquisition directly supports Saudi Arabia’s Vision 2030 goals of strengthening national space infrastructure, localizing high-tech capabilities, and fostering a thriving commercial space economy.
KEY QUOTES:
“We are thrilled to officially welcome UP42 into Neo Space Group. It’s a pivotal moment for us, strengthening our position as one of the leading players in the geospatial domain. Together, we’re committed to advancing the sector, delivering impactful solutions that power businesses and benefit key industries in Saudi Arabia and worldwide.”
Martijn Blanken, CEO of Neo Space Group
“This is an incredibly exciting new chapter for UP42. Now a core pillar of the Neo Space Group team, we are strengthening our commitment to continuity and broadening the reach for our valued partners and their geospatial products. Our existing services and dedication to our customers continue unchanged. This union advances our mission to streamline Earth observation data access and management at scale. This helps our customers to solve complex real-world problems and drive positive global impact.”
Sean Wiid, CEO of UP42
