Neo Space acquires UP42 from Airbus Defence and Space
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Following the initial announcement in December 2024, UP42 is now formally part of the NSG organisation.
This strategic acquisition substantially enhances the capabilities of both organisations. NSG significantly expands its market reach, deepens its technological expertise and gains access to a broader range of geospatial assets. The transaction also enables UP42 to accelerate its international growth and drive geospatial innovation on a global scale, positioned to deliver even stronger services to its fast-growing customer base and to expand the platform's reach for its partners.
"We are thrilled to officially welcome UP42 into Neo Space Group," said Martijn Blanken, CEO of 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."
Sean Wiid, CEO of UP42, said: "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."
This acquisition directly supports Saudi Arabia's Vision 2030 goals of strengthening national space infrastructure, localising high-tech capabilities and fostering a thriving commercial space economy.
