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Abu Dhabi Merger Will Create A $4.1B Space Company

Bayanat, a geospatial data provider, and Al Yah Satellite Communications will become Space42, the MENA region’s first AI-powered space-tech company.

Published

3 years ago

December 21, 2023

Nour Nasir

abu dhabi merger will create a $4.1 billion space company

Yahsat

Two Abu Dhabi companies have agreed to merge in a landmark deal that will create “Space42,” one of the world’s most valuable listed space-tech companies.

Bayanat, a geospatial data provider, and Al Yah Satellite Communications — known as Yahsat — will have a market capitalization of $4.08 billion.

“This merger will unite two leading home-grown companies to create the Mena region’s first AI-powered space technology company,” explained Tareq Al Hosani, chairman of Bayanat.

“Together, we will leverage our key synergies to reinforce our position as a key engine of growth and strategic solutions provider to the UAE government and its agencies while expanding our reach to global customers,” he added.

The proposed merger will be realized through a share swap, with Bayanat remaining a legal entity. The shareholders of Bayanat and Yahsat will own 54% and 46%, respectively, of the newly created company.

“The merger is a compelling opportunity to amplify value creation for shareholders, utilizing synergies and strategic consolidation to create a technologically advanced champion […] The enlarged entity will benefit from accelerated growth potential as a player of scale with enhanced competitive advantage,” said Musabbeh Al Kaabi, chairman of Yahsat.

Also Read: Aramex And Regent To Develop Electric Seagliders

The space sector is currently enjoying a massive surge of interest as competition hots up with more companies entering the arena. According to figures from the Space Foundation, the space economy grew by 8% to nearly $550 billion in 2022 and is projected to expand by at least another 40% over the next five years.

The UAE, currently the Arab world’s second-largest economy, has the region’s largest space sector in terms of investment size. Last year, the Emirates launched an $820 million fund to support its latest space program and a new initiative to develop high-tech radar satellites.

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NEOPAY Wants To Follow Merchants Across Channels And Borders

A controlling 65% stake in noon payments would give NEOPAY access to marketplace sellers, online merchants and the payment flows they generate.

Published

1 day ago

October 5, 2026

Nour Nasir

neopay wants to follow merchants across channels and borders

It’s been a long time since checkouts were single defined places. A merchant might take payments at a physical register, on its own website and through an online marketplace, sometimes in more than one country. NEOPAY wants to follow those transactions wherever they happen.

The UAE payments company has entered into an agreement to acquire a 65% controlling stake in noon payments. NEOPAY already runs the acquiring infrastructure that lets merchants accept card payments, along with omnichannel acceptance and a merchant services platform. This new deal would add noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. That would considerably expand both NEOPAY’s digital commerce capabilities and its regional reach.

For merchants, the attraction is a single provider for online and in-store payments, plus faster settlements, data and analytics, and value-added financial services.

“Payments should be simple, reliable, and built for the markets they serve,” said Faraz Khalid, CEO of noon. His counterpart at NEOPAY, Vibhor Mundhada, added: “We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region”. The acquisition, Mundhada added, would “expand our footprint into Saudi Arabia and Egypt” while reinforcing NEOPAY’s position at home.

Also Read: In Kuwait, Your Surgeon Might Be Operating From Another Country

NEOPAY is also keen to point out potential payment volume increases. The company says noon payments’ integrations with marketplace sellers and online merchants create high transaction density in some of the region’s fastest-growing digital commerce segments. It also believes control of the business would give it access to those merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.

The combined roadmap targets faster merchant onboarding, better payment performance, tighter fraud controls and embedded financial services. The deal could also strengthen cross-border payments and settlement along key regional commerce corridors.