Neo Space Group (NSG), a Public Investment Fund (PIF)-owned company and Saudi Arabia’s leading commercial space services provider, has announced a definitive agreement to acquire Airbus Defence and Space’s UP42, a next-generation Earth observation digital platform. The acquisition is subject to customary closing conditions, including regulatory approvals.

Launched in 2019 by Airbus in Berlin, Germany, UP42 is renowned for streamlining access to geospatial data and analytics through a cloud-based platform. The service aggregates data from over 80 global providers, serving industries like agriculture, urban planning, infrastructure monitoring, and disaster management.

This acquisition aligns with NSG’s strategy to expand its geospatial division, complementing its prior acquisition of Taqnia ETS. According to Martijn Blanken, the CEO of NSG, integrating UP42 into Saudi Arabia’s ecosystem will position the company to deliver advanced geospatial insights that support the Kingdom’s rapidly growing economy. He emphasized that this acquisition is pivotal for NSG’s vision of driving innovation in the geospatial sector locally and globally, while contributing to the development of Saudi Arabia’s space economy under Vision 2030.

The move strengthens NSG’s role in providing Earth observation (EO) services, following the Saudi Communications, Space, and Technology Commission’s recent permit for NSG to offer EO platform services in the Kingdom.

Sean Wiid, CEO of UP42, highlighted the benefits of joining NSG, explaining that this collaboration will accelerate UP42’s international growth while supporting the creation of a robust Earth observation ecosystem in Saudi Arabia. He added that the platform will bring significant value to sectors such as government, agriculture, energy, and tourism.

NSG was established in May 2024 with a mission to lead the global satellite and space sector, driving innovation and economic diversification as part of Vision 2030.