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Shareholders Approve Yahsat and Bayanat Merger to Create Space42

By Mark Holmes | April 26, 2024

Photo: Bayanat and Yahsat

The anticipated merger of Bayanat, an AI-powered geospatial solutions provider, and Yahsat, the UAE’s flagship satellite operator, is now close to completion. The shareholders of both companies approved the proposed merger of the two Abu Dhabi-headquartered entities to create Space42, a global AI-powered space technology company. Yahsat announced the combined shareholder approval on April 25.

The merger was initially proposed by the respective boards of directors late last year, and is expected to become effective by the middle of this year.

The new entity will aim to consolidate Bayanat’s advanced geospatial AI capabilities with Yahsat’s satellite communications capabilities to create new space-based services that aim to have a significant impact on societies and economies. The merger is subject to further regulatory approvals in the UAE and internationally. Both companies will continue to operate independently until the merger is effective.

“The creation of SPACE42 exemplifies the forward-thinking vision of the UAE’s leadership, which emphasizes on innovation as a key driver of advancement and sustainable development. By combining two of the country’s leading space titans, the UAE continues to make major strides on a global scale to push the boundaries of this sector, foster economic growth, develop world-class talent, and advance scientific exploration. Building upon its enormous capabilities, the new entity is poised to play a significant role in realizing the ambitious objectives outlined by the National Space Strategy 2030 and the National Strategy for Artificial Intelligence 2031,” commented Mansoor Al Mansoori, chairman designate of Space42.

The company’s new managing director, former SES CEO Karim Michel Sabbagh, recently spoke with Via Satellite about the vision for the combined company, saying it will “be well positioned to unlock opportunities at the intersection of geospatial intelligence, satellite communications, and artificial intelligence.”