Saudi Arabia’s Neo Space Group (NSG) has strengthened its position in the global space industry with the acquisition of Airbus’ UP42 platform. The announcement highlights NSG’s efforts to advance the Kingdom’s geospatial capabilities and expand its influence in the global space economy.

As a leading commercial space services provider and a Public Investment Fund (PIF) entity, the acquisition aligns with PIF’s strategy to unlock emerging sectors, increase non-oil revenues, and contribute to Saudi Arabia’s economic diversification under Vision 2030.

“By integrating the UP42 platform into the Saudi ecosystem, we are positioning NSG to deliver cutting-edge geospatial insights for one of the world’s fastest-growing economies,” said NSG CEO Martijn Blanken.

Launched in 2019 by Airbus, UP42 simplifies access to geospatial data through its cloud-based platform, aggregating insights from over 80 global geospatial providers. The platform will now integrate into NSG’s growing geospatial division, which includes Saudi-based TAQNIA ETS.

NSG emphasized that UP42’s platform will address real-world geospatial challenges, providing innovative solutions for industries such as agriculture, urban planning, real estate, infrastructure monitoring, and disaster management.

The acquisition builds on NSG’s progress since July, when the Communications, Space, and Technology Commission granted it a permit to operate the platform within the Kingdom.

NSG, established in May 2023, offers satellite broadband, in-flight connectivity, Earth observation, and remote sensing services.