UAE merger creates world’s most valuable listed space company

UAE merger creates world’s most valuable listed space company

The world’s most valuable publicly listed space company has been created after shareholders of analytics provider Bayanat and “satellite solutions” company Al Yah Satellite Communications Company (Yahsat) agreed to a merger. The deal will help to further Abu Dhabi’s ambitions to be at the centre of the drive towards autonomous vehicles. The newly created Space42 […]

Bayanat and Yahsat to merge

Combined revenue $760m

‘Unique offering’ of merged expertise

The world’s most valuable publicly listed space company has been created after shareholders of analytics provider Bayanat and “satellite solutions” company Al Yah Satellite Communications Company (Yahsat) agreed to a merger.

The deal will help to further Abu Dhabi’s ambitions to be at the centre of the drive towards autonomous vehicles.

The newly created Space42 has a combined revenue of AED2.8 billion ($760 million) and net income of AED639 million ($174 million), based on the latest financial results.

Bayanat is majority-owned by G42, the Abu Dhabi artificial intelligence enterprise, while Yahsat is a subsidiary of sovereign wealth fund Mubadala Investment Company.

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“With the combined expertise of both businesses, Space42 brings a unique offering to the market, merging satellite communications, geospatial intelligence and AI to pioneer innovative solutions,” said