Summary points:
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Neo Space Group (NSG), based in Riyadh, completed its acquisition of Berlin-based Earth observation platform UP42 from Airbus Defence and Space, expanding NSG’s geospatial capabilities and global market access.
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UP42 will maintain its services while accelerating its international growth under NSG, supporting Saudi Arabia’s Vision 2030 goals to strengthen space infrastructure and commercial space capabilities.
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NSG leaders said the acquisition enhances their ability to deliver data-driven solutions globally, while UP42 executives emphasized continued support for customers and expanded reach for partners.
RIYADH, Saudi Arabia - Neo Space Group (NSG), a Saudi Arabian commercial space services provider in Riyadh, announced that the company has completed its previously announced acquisition of UP42 GmbH, an Earth observation (EO) platform previously owned by Airbus Defence and Space GmbH in Berlin. Following the initial announcement in December 2024, UP42 is now formally part of the NSG organization.
NSG stated that the acquisition represents a significant step in expanding its international geospatial capabilities and enhancing its technological expertise. By acquiring UP42, NSG gains access to a wider selection of Earth observation data, analytics tools, and global markets.
"We are thrilled to officially welcome UP42 into Neo Space Group," said Martijn Blanken, CEO of NSG. "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."
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Analytics
Berlin-based UP42 operates a platform that enables users to access and analyze satellite imagery and geospatial data. The company plans to maintain its existing services while expanding its platform’s reach under NSG.
"This is an incredibly exciting new chapter for UP42," said Sean Wiid, CEO of 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."
NSG said the acquisition supports Saudi Arabia’s Vision 2030 initiative, which aims to develop domestic space infrastructure, advance high-tech capabilities, and grow a competitive commercial space sector. NSG was launched in May 2024, when Public Investment Fund (PIF) announced the establishment of NSG.
