Riyadh, Saudi Arabia & Berlin, Germany – July 10, 2025 – Neo Space Group (NSG), a PIF company and Saudi Arabia’s leading commercial space services provider, announced today that the company has completed its previously announced acquisition of UP42 GmbH, the leading Earth Observation (EO) platform previously owned by Airbus Defence and Space GmbH. Following the initial announcement in December 2024, UP42 is now formally part of the NSG organization.
This strategic acquisition substantially enhances the capabilities of both organizations. 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.”
UP42’s dedication to its customers and partners remains paramount. “This is an incredibly exciting new chapter for UP42,” added 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. 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, localizing high-tech capabilities, and fostering a thriving commercial space economy.
About Neo Space Group www.neospacegroup.com
NEO SPACE GROUP (NSG) is a global space and satellite services company based in Saudi Arabia offering a broad portfolio of space services including satellite broadband communications, in-flight connectivity, earth observation and remote sensing, geospatial analysis, satellite navigation and IoT, and an active investor in space technology. NSG, a Public Investment Fund (PIF) company, is an essential enabler of the Vision 2030 goals for economic diversification, industrial development, innovation, and job creation.
About UP42
UP42 transforms how organizations order, access, and analyze Earth Observation data through its next generation Earth observation platform. It simplifies data access, streamlines data management, and enables imagery processing at scale, making it easy to create geospatial solutions. The company was born in 2019 in Berlin and founded by Airbus.
Media Contact:
Neo Space Group:
Raouf Khalife | VP Marketing & Communications, Neo Space Group
Email : [email protected]
Tel : +966 50 1362533
Amal Al-Ruwaii | PR & Communications Manager, Neo Space Group
Email: [email protected]
Tel: +966 50 5879704
UP42:
César Santos | VP Marketing, UP42
Email: [email protected]
