Saudi Arabia has acquired the Berlin-based Earth observation platform UP42, marking the latest in a series of moves to accelerate its ambitions in the commercial space sector
The platform, launched by Airbus in 2019, will now operate under Riyadh’s state-backed Neo Space Group (NSG), which completed the transaction this week. NSG, a subsidiary of the Public Investment Fund (PIF), is being positioned as the Kingdom’s flagship commercial space vehicle and a core instrument in its Vision 2030 industrial strategy.
With the deal, NSG gains direct control of a cloud-based platform that aggregates and distributes satellite data from more than 80 international providers, serving customers across sectors such as agriculture, infrastructure monitoring, and disaster response. The acquisition gives Saudi Arabia both a foothold in the European Earth observation market and a tested digital platform to support its own geospatial ecosystem.
Founded just over a year ago, NSG has moved quickly to build capability in areas ranging from satellite broadband to remote sensing and space-based analytics. The group also recently secured national regulatory clearance to provide Earth observation services inside the Kingdom.
Martijn Blanken, CEO of Neo Space Group, said: “We are thrilled to officially welcome UP42 into 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.”
For Saudi Arabia, the deal fits into a broader pattern of targeted acquisitions designed to localise strategic technologies while integrating with global supply chains. Under Vision 2030, the Kingdom has earmarked space as one of several future-facing industries – alongside AI, green hydrogen and quantum computing – where state capital can accelerate national capability.
The terms of the deal with Airbus Defence and Space have not been disclosed.
Sean Wiid, UP42’s chief executive, said the company would retain operational continuity while benefiting from broader access to markets through its new owner.
“This is an incredibly exciting new chapter for UP42,” he said. “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.”
Images: Neo Space Group
