In December 2024, we announced our acquisition by Neo Space Group, pending the usual regulatory approval. And today, we’re proud to announce that the acquisition is complete.
Now, a new chapter starts for UP42. With the backing of Neo Space Group, we’ll continue to drive geospatial innovation on a global scale. Our customers can rest assured that the benefits they get from our platform will only increase. And our partners will have an even broader market for their data and processing products.
To all of our current and former employees: thank you for all the work you’ve done to make UP42 great. To everyone on both the Airbus and the NSG side, and to our partners, thank you for your support and your belief in our platform.
And to our customers, thank you for your continued trust. Together with NSG, we’ll strive to deliver even more value and innovation.
You can read the full press release below.
Neo Space Group completes acquisition of UP42 from Airbus Defence and Space
- Neo Space Group (NSG) has officially finalized its acquisition of UP42, integrating the Earth Observation platform into the NSG organization.
- The acquisition strengthens NSG’s global geospatial capabilities while accelerating UP42’s growth and innovation for customers and partners worldwide.
Riyadh, Saudi Arabia & Berlin, Germany – July 10, 2025 – Neo Space Group (NSG), a PIF company and Saudi Arabia’s leading commercial space services provider, announced today that the company has completed its previously announced acquisition of UP42 GmbH, the leading Earth Observation (EO) platform previously owned by Airbus Defence and Space GmbH. Following the initial announcement in December 2024, UP42 is now formally part of the NSG organization.
This strategic acquisition substantially enhances the capabilities of both organizations. NSG significantly expands its market reach, deepens its technological expertise, and gains access to a broader range of geospatial assets. The transaction also enables UP42 to accelerate its international growth and drive geospatial innovation on a global scale, positioned to deliver even stronger services to its fast-growing customer base and to expand the platform’s reach for its partners.
"We are thrilled to officially welcome UP42 into Neo Space Group," said Martijn Blanken, CEO of 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."
UP42’s dedication to its customers and partners remains paramount. "This is an incredibly exciting new chapter for UP42," added Sean Wiid, CEO of UP42. "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."
This acquisition directly supports Saudi Arabia’s Vision 2030 goals of strengthening national space infrastructure, localizing high-tech capabilities, and fostering a thriving commercial space economy.
About Neo Space Group www.neospacegroup.com NEO SPACE GROUP (NSG) is a global space and satellite services company based in Saudi Arabia offering a broad portfolio of space services including satellite broadband communications, in-flight connectivity, earth observation and remote sensing, geospatial analysis, satellite navigation and IoT, and an active investor in space technology. NSG, a Public Investment Fund (PIF) company, is an essential enabler of the Vision 2030 goals for economic diversification, industrial development, innovation, and job creation.
About UP42 UP42 transforms how organizations order, access, and analyze Earth Observation data through its next generation Earth observation platform. It simplifies data access, streamlines data management, and enables imagery processing at scale, making it easy to create geospatial solutions. The company was born in 2019 in Berlin and founded by Airbus.
Media Contact:
Neo Space Group: Raouf Khalife | VP Marketing & Communications, Neo Space Group Email : [email protected] Tel : +966 50 1362533
Amal Al-Ruwaii | PR & Communications Manager, Neo Space Group Email: [email protected] Tel: +966 50 5879704
UP42: César Santos | VP Marketing, UP42 Email: [email protected]
Forward-Looking Statements This press release contains forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements due to various factors. Neither Neo Space Group nor UP42 assumes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
