Riyadh – Sharikat Mubasher: Saudi Arabia’s Neo Space Group (NSG), a Public Investment Fund (PIF) company and the Kingdom’s leading commercial space services provider, announced the completion of acquiring UP42 GmbH, an Earth Observation (EO) platform previously owned by Airbus Defence and Space.

According to a recent press release, the acquisition, initially announced in December 2024, enhances NSG’s global geospatial offerings and expands its reach across international markets. UP42, now officially part of NSG, will continue operating from Berlin while accelerating innovation and access to EO data for its partners and clients.

Martijn Blanken, NSG CEO, called the move “a pivotal moment” for the company’s growth in the geospatial domain. Meanwhile, Sean Wiid, UP42 CEO, emphasized that the company’s services and customer focus remain unchanged, with the acquisition enabling broader impact through streamlined EO data access.

The deal aligns with Vision 2030 goals to localize advanced technologies and strengthen Saudi Arabia’s position in the global space economy.