Bayanat and YahSat join forces to create the Middle East’s first AI space firm, valued at $4 billion.
Recently, Bayanat, a geospatial analytics firm, merged with satellite operator Yahsat, which offers integrated satcom services in over 150 countries and is known for the popular satellite phone Thurayya.
H.E. Tareq Al Hosani, Chairman, Bayanat, said, “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.”
Musabbeh Al Kaabi, Chairman of Yahsat, said, “The merger is a compelling opportunity to amplify value creation for shareholders, utilising synergies and strategic consolidation to create a technologically advanced champion, further reinforcing the UAE’s position as a leader in the AI and space sectors.”
The merger of the two companies, to be effective by mid-2024, will create UAE’s first AI-powered Space firm, valued at $4 billion. The combined entity would be the biggest AI-powered space tech and geospatial company not just in the Middle East, but the broader MENA ( Middle East & North Africa) region, strategically positioning Abu Dhabi at the vanguard of next-gen innovation.
