Saudi Arabia’s Neo Space Group (NSG) will acquire geospatial platform company UP42 from Airbus Defence and Space. Photo: UP42

Saudi Arabia’s Neo Space Group (NSG) is making an acquisition in the Earth observation space, acquiring UP42 from Airbus Defence and Space. Terms of the deal were not disclosed in the Dec. 3 announcement. The deal is subject to regulatory approval. 

UP42 is a geospatial solution platform that allows customers to access data and task satellites across multiple EO providers. The company is based in Berlin and its partners include Planet, BlackSky, Capella Space, Esri, and more. It serves end customers in a range of market verticals including agriculture, urban planning, real estate, infrastructure monitoring, and disaster management. 

NSG said that UP42 will be part of the company’s growing geospatial division and support Saudi Arabia’s demand for advanced EO and geospatial solutions. NSG is the space venture from Saudi Arabia’s sovereign wealth fund, launched earlier this year. 

“By integrating the UP42 platform into the [Kingdom of Saudi Arabia’s] ecosystem, we are positioning NSG to deliver cutting-edge geospatial insights for one of the world’s fastest growing economies. This acquisition is pivotal in fulfilling our vision to lead innovation in the geospatial sector both locally, and globally, and further contribute to the growth of the space economy in Saudi Arabia, in full alignment with Saudi Vision 2030,” commented NSG CEO Martijn Blanken.