<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" > <channel> <title>UP42 platform – GCC Business News</title> <atom:link href="https://www.gccbusinessnews.com/tag/up42-platform/feed/" rel="self" type="application/rss+xml" /> <link>https://www.gccbusinessnews.com</link> <description>GCC Business News delivers business and markets news, analysis, features and videos from GCC and around the world.</description> <lastBuildDate>Tue, 03 Dec 2024 13:50:55 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <site xmlns="com-wordpress:feed-additions:1">178751454</site> <item> <title>PIF-owned Neo Space to acquire Airbus’ UP42 Earth observation platform</title> <link>https://www.gccbusinessnews.com/neo-space-to-acquire-up42-platform/</link> <dc:creator><![CDATA[Arya M Nair]]></dc:creator> <pubDate>Tue, 03 Dec 2024 13:50:55 +0000</pubDate> <category><![CDATA[Aerospace]]></category> <category><![CDATA[Business]]></category> <category><![CDATA[Saudi Arabia]]></category> <category><![CDATA[Technology]]></category> <category><![CDATA[Trending]]></category> <category><![CDATA[You May Like]]></category> <category><![CDATA[Airbus earth observation digital platform]]></category> <category><![CDATA[Neo Space Geospatial division]]></category> <category><![CDATA[Neo Space Group by PIF]]></category> <category><![CDATA[Neo Space to acquire UP42]]></category> <category><![CDATA[UP42 earth observation digital platform]]></category> <category><![CDATA[UP42 platform]]></category> <guid isPermaLink="false">https://www.gccbusinessnews.com/?p=107233</guid> <description><![CDATA[Neo Space Group (NSG), a PIF company and Saudi Arabia’s leading commercial space services provider, has entered into a definitive agreement with Airbus Defence and Space (Airbus) to acquire its UP42 business, a next-generation earth observation digital platform. UP42, launched by Airbus in 2019 in Berlin, Germany, is a pioneer in streamlining access to and […]]]></description> <content:encoded><![CDATA[<p><strong><span data-preserver-spaces="true">Neo Space Group (NSG), a PIF company and Saudi </span><span data-preserver-spaces="true">Arabia’s</span><span data-preserver-spaces="true"> leading commercial space services </span><span data-preserver-spaces="true">provider,</span><span data-preserver-spaces="true"> has </span><span data-preserver-spaces="true">entered into a definitive agreement</span><span data-preserver-spaces="true"> with Airbus Defence and Space (Airbus) to acquire its UP42 business, a next-generation earth observation digital platform.</span></strong></p> <p><span data-preserver-spaces="true">UP42, launched by Airbus in 2019 in Berlin, Germany, is a pioneer in streamlining access to and deriving insights from geospatial data via a cloud-based platform.</span></p> <p><span data-preserver-spaces="true">UP42 </span><span data-preserver-spaces="true">is expected</span><span data-preserver-spaces="true"> to be part of </span><span data-preserver-spaces="true">NSG’s</span><span data-preserver-spaces="true"> growing Geospatial division, building on the acquisition of Taqnia ETS. </span><span data-preserver-spaces="true">UP42’s</span><span data-preserver-spaces="true"> earth observation digital platform provides customers access to data and analytics from 80+ of the </span><span data-preserver-spaces="true">world’s</span><span data-preserver-spaces="true"> leading geospatial companies</span><span data-preserver-spaces="true">, making</span><span data-preserver-spaces="true"> it easy to source and manage diverse data from multiple providers through one seamless interface.</span></p> <p><span data-preserver-spaces="true">Customers of UP42 can leverage the UP42 platform to solve real-world geospatial challenges and deliver value to their end customers across a range of market verticals, including agriculture, urban planning, real estate, infrastructure monitoring, disaster management, and more.</span></p> <blockquote> <figure id="attachment_107234" aria-describedby="caption-attachment-107234" style="width: 150px" class="wp-caption alignright"><img decoding="async" class="size-thumbnail wp-image-107234" src="https://cdn.gccbusinessnews.com/wp-content/uploads/2024/12/03185851/Martijn-Blanken_Neo-Space-acquires-UP42-business-150x150.jpg" alt="Martijn Blanken_Neo Space acquires UP42 business" width="150" height="150" srcset="https://cdn.gccbusinessnews.com/wp-content/uploads/2024/12/03185851/Martijn-Blanken_Neo-Space-acquires-UP42-business-150x150.jpg 150w, https://cdn.gccbusinessnews.com/wp-content/uploads/2024/12/03185851/Martijn-Blanken_Neo-Space-acquires-UP42-business.jpg 200w" sizes="(max-width: 150px) 100vw, 150px" /><figcaption id="caption-attachment-107234" class="wp-caption-text">Martijn Blanken<br />CEO – Neo Space Group</figcaption></figure> <p><span data-preserver-spaces="true">“B</span><span data-preserver-spaces="true">y integrating the UP42 platform into the KSA ecosystem, we are positioning NSG to deliver cutting-edge geospatial insights for one of the </span><span data-preserver-spaces="true">world’s</span><span data-preserver-spaces="true"> fastest-growing economies. This acquisition is pivotal in fulfilling our vision to lead innovation in the geospatial sector both </span><span data-preserver-spaces="true">locally,</span><span data-preserver-spaces="true"> and globally, and further contribute to the growth of the space economy in Saudi Arabia, in full alignment with Saudi Vision 2030</span><span data-preserver-spaces="true">.”</span></p></blockquote> <p><span data-preserver-spaces="true">The announcement further reinforces the strategic role NSG will play in providing EO </span><span data-preserver-spaces="true">services,</span><span data-preserver-spaces="true"> after The Communications, Space, and Technology Commission (CST) of Saudi Arabia announced in July this year that NSG had won the permit to provide the Earth Observation (EO) Platform Service in Saudi Arabia.</span></p> <p><span data-preserver-spaces="true">Sean Wiid, Chief Executive Officer of UP42, said that,</span><span data-preserver-spaces="true"> “</span><span data-preserver-spaces="true">Joining NSG is an exciting step for UP42. Our continued international business growth will support the ambition to make NSG a global leader in geospatial innovation. At the same time, we will play a key role in developing a robust Earth observation ecosystem within Saudi Arabia </span><span data-preserver-spaces="true">for the benefit of</span><span data-preserver-spaces="true"> the Government, Agriculture, Energy, Travel, and Tourism sector</span><span data-preserver-spaces="true">s.”</span></p> <p><span data-preserver-spaces="true">NSG </span><span data-preserver-spaces="true">was launched</span><span data-preserver-spaces="true"> in May 2024, when the Public Investment Fund (PIF) announced the establishment of NSG with the mission to become a global leader in the satellite and space sector. By fostering national expertise and enhancing Saudi </span><span data-preserver-spaces="true">Arabia’s</span><span data-preserver-spaces="true"> position in the </span><span data-preserver-spaces="true">global</span><span data-preserver-spaces="true"> space economy, NSG aims to unlock the potential of emerging industries, diversify the Saudi economy, and support the realization of Vision 2030.</span></p> <p><span style="color: #ff0000;"><strong>Also Read |</strong></span> <a href="https://www.gccbusinessnews.com/pif-establishes-neo-space-group/" target="_blank" rel="noopener"><strong>Saudi PIF establishes Neo Space Group company</strong></a></p> ]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">107233</post-id> </item> </channel> </rss>