Space42 is a UAE-based, AI-powered SpaceTech company established in 2024, integrating satellite communications, geospatial analytics, and artificial intelligence. It has two business units: Yahsat Space Services and Bayanat Smart Solutions. Space42 focuses on satellite operations, geospatial data processing, and AI-driven solutions, with major shareholders including G42, Mubadala, and IHC.
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Amit Somani rejoins Yahsat after previously working at the company from 2010 to 2022.
Abu Dhabi-based companies YahSat and Bayanat announced a merger in December of the prior year to create a new holding company called Space42.
Bayanat joins industry giants such as Oracle and Esri in the WGIC.
Bayanat plans to leverage its expertise in AI and data analytics to drive innovation in the geospatial community.
Dr. Prashanth Marpu, Bayanat’s VP of Research and Development, will serve as a WGIC Board Member.
Hasan Al Hosani, Bayanat’s Managing Director, has been appointed as a Patron Board Member of WGIC.
Hasan Al Hosani's appointment as a Patron Board Member reflects his leadership and Bayanat’s status in the global geospatial community.
Hasan Al Hosani's appointment and Dr. Marpu’s inclusion in WGIC demonstrate Bayanat’s commitment to influencing the direction of geospatial technologies.
Bayanat has become a member of the World Geospatial Industry Council (WGIC).
Viasat, Terrestar Solutions, Ligado Networks, Omnispace, and Yahsat created the Mobile Satellite Services Association on 2024-02-09 as a non-profit to harmonize Mobile Satellite Services for integration with standardized devices.
The combined Bayanat–Yahsat entity has an implied market capitalization of over AED 15 billion (more than $4,000,000,000) based on both entities’ closing share prices as at 2023-12-18.
Space42 is a proposed combination of regional satellite operator Yahsat and geospatial intelligence provider Bayanat valued at around $4,000,000,000.
Under plans announced 2023-12-19, Bayanat and Yahsat shareholders would take 54% and 46% of Space42, respectively, if the deal closes in the second half of 2024.
Yahsat provides broadband, video broadcasting, backhaul, and mobile voice and data services with a fleet of five geostationary satellites.
Bayanat planned to perform geospatial analytics and develop AI algorithms for the SAR data leveraging Yahsat’s satellite infrastructure backbone.
In May, Yahsat and Bayanat ordered five UAE-focused synthetic aperture radar satellites from Finnish Earth observation operator Iceye, with the first targeting launch in the first quarter of 2024.
Bayanat and Xcalibur Multiphysics will collaborate to deploy a first-of-its-kind state-of-the-art geophysical autonomous system in the UAE.
Bayanat and Teledyne Geospatial will develop new technologies for survey operations to expand the range of products and solutions for land and sea geospatial operations.
Abdulla Al Shamsi, COO of Bayanat, signed the MOUs with Xcalibur Multiphysics and Teledyne Geospatial.
The MoU sets out the framework for introducing AI and ML-driven solutions over Thuraya and Yahsat satellites.