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Hisdesat has signed an agreement with emirati company Space42 to explore commercial collaboration in Earth observation and satellite communications.
The partnership aims to combine Space42's AI-based satellite infrastructure with Hisdesat's expertise in secure communications to accelerate the development of satellite services that strengthen global resilience and connectivity.
The collaboration between Hisdesat and Space42 reflects the desire of both companies to expand international partnerships and align with the growing momentum of space cooperation between the United Arab Emirates and Spain.
Ali Al Hashemi, CEO of Space Services at Space42, stated that the partnership with Hisdesat highlights Space42's role as a bridge between nations and emphasizes how space technology can drive economic growth and social progress.
Space42 has announced the global availability of its next-generation mobile communications satellite, Thuraya-4 (T4-NGS).
Space42 in the UAE announced the global launch of its commercial satellite communication service provided by the Thuraya-4 satellite.
Space42 and Autonomous A2Z have established a joint venture to commercialize Level-4 autonomous driving technologies in the UAE.
Revenue for Space42 dropped 15 percent to $363 million for the nine months to September 30, 2025.
Space42 has contracted future revenues of $6.7 billion.
Space42 launched the Thuraya-4 satellite in July 2025, which can deliver 'jam-proof connectivity' to military and civilian users.
Space42's stock is down nearly 10 percent in the year to date.
Space42 secured a $696 million Export Credit Agency-backed financing facility for the Al Yah 4 and Al Yah 5 satellite programme.
Space42 closed with $755 million in cash and short-term deposits.
Space42's stock was trading 1 percent lower at AED1.78 on the Abu Dhabi Securities Exchange on Thursday afternoon.
Space42's net profit fell 50 percent year on year to $56 million in the first nine months of 2025.
In October 2025, Space42 received a $300 million advance from the UAE government as part of a $5 billion, 17-year contract.
Space42's revenue for its space services unit increased by 11 percent in the third quarter compared to Q2.
Group 42 Holding owns 41.58 percent of Space42.
Mubadala Investment Company owns 28.97 percent of Space42.
Airbus manufactured Thuraya-4-NGS for Yahsat based on the all-electric Airbus Eurostar Neo platform.