UP42 transitions to Neo Space Group in strategic Earth observation deal

Neo Space Group (NSG) has announced a definitive agreement to acquire Airbus Defence and Space’s UP42 business into its expanding Geospatial division. As an innovative Earth observation platform, UP42 simplifies access to geospatial data and insights through cloud-based technology. NSG is a company backed by Saudi Arabia’s Public Investment Fund and a leader in commercial space services. The transition of UP42, which remains subject to customary closing conditions including regulatory approvals, will further solidify NSG’s strategic growth following the acquisition of Taqnia ETS.

Established in Berlin in 2019, UP42 offers customers streamlined access to data and analytics from more than 80 top-tier geospatial companies worldwide. The platform’s seamless interface enables users to source and manage diverse datasets effortlessly, addressing a wide array of real-world challenges in sectors such as agriculture, urban planning, real estate, infrastructure monitoring, disaster management and more.

Geospatial innovation ambitions

Martijn Blanken, NSG’s CEO, emphasized the significance of this acquisition: “Integrating the UP42 platform into the Kingdom of Saudi Arabia (KSA) ecosystem positions NSG to deliver transformative geospatial insights for one of the world’s fastest-growing economies. This marks a major milestone in realizing our ambition to lead geospatial innovation both locally and globally, aligning with Saudi Vision 2030 and fuelling the growth of the space economy in Saudi Arabia.”

The move comes as NSG strengthens its role in providing Earth observation (EO) services, bolstered by Saudi Arabia’s Communications, Space and Technology (CST) Commission granting NSG a permit to deliver EO platform services earlier this year.

Pivotal role

Reflecting on the partnership, Sean Wiid, CEO of UP42, shared his perspective: “Becoming part of NSG represents an exciting new chapter for UP42. Our ongoing international growth will contribute to NSG’s ambition to lead in geospatial innovation. Simultaneously, we will play a pivotal role in establishing a robust Earth observation ecosystem in Saudi Arabia, benefiting key sectors such as government, agriculture, energy, travel and tourism.”

NSG was launched in May 2024 by Public Investment Fund (PIF), with the mission to become a global leader in the satellite and space sector. By fostering national expertise and enhancing Saudi Arabia’s position in the global space economy, NSG aims to unlock the potential of emerging industries, diversify the Saudi economy, and support the realization of Vision 2030.