Neo Space Group to acquire UP42 business from Airbus.

Neo Space Group, an aerospace company, agreed to acquire UP42 business, a next-generation earth observation digital platform, from Airbus, an Aircraft manufacturing commercial company. Financial terms were not disclosed. "By integrating the UP42 platform into the KSA ecosystem, we are positioning NSG to deliver cutting-edge geospatial insights for one of the world's fastest growing economies. This acquisition is pivotal in fulfilling our vision to lead innovation in the geospatial sector both locally, and globally, and further contribute to the growth of the space economy in Saudi Arabia, in full alignment with Saudi Vision 2030," Martijn Blanken, NSG Chief Executive Officer.