UAE's New Space Champion

-



The recently announced merger between Bayanat and Yahsat to form Space42 is set to create a giant in the global space industry. With a market capitalization of Dh12 billion based on the closing share prices of the two firms, Space42 will be one of the most valuable publicly listed space companies worldwide. The combined entity will have total assets of Dh14.8 billion and annual revenues of close to Dh1 billion. 


By bringing together Bayanat's capabilities in AI and data analytics with Yahsat's expertise in satellite communication, Space42 achieves massive scale. The new company holds contracts worth $6.9 billion and provides services covering over 80% of the world. It also has access to advanced technologies to enable innovative space-based solutions. The merger establishes a strong platform to drive further synergies and support transformative technologies.


Yahsat in particular has a proven track record, strong balance sheet and long-standing partnership with the UAE government on key space projects. Bayanat too has gained prominent customers. Space42 is thus well positioned to capitalize on substantial cross-selling opportunities. With its strong financial profile and R&D focus, the UAE has gained a globally competitive homegrown space champion at the forefront of the industry's continued growth.

Comments

Post a Comment

Popular posts from this blog

14 incredible places in the UAE you need to visit at least once

-
Image
  United Arab Emirates is one of the most beautiful country to visit. Anyone who came here to visit once they always want to come here again, because here are so many places to visit and make your days memorable, but there are so many people doesn’t even know about it. Here are these places of UAE 🇦🇪 people must visit once in life. Snoopy Island, Fujairah : Snoopy Island is a marine paradise offering some of the best snorkeling in the GCC. Turtles, fish every colour of the rainbow, and even little white-tip reef sharks have made this sparkling cerulean sea their home. Aquaventure Waterpark, Atlantis The Palm Aquaventure is a Dubai day out worth braving the summer heat for. Across three super-sized towers there’s more than 100 rides to discover, whether you’re just looking to chill out on the rapids, or face your fears on The Leap Of Faith. Jebel  Ras al Khaimah Jebel Jais  is the highest mountain peak in the region and is home to a number of fun adventurous activities. ...
Read more

UAE, Pakistani FMs discuss cooperation, strategic partnership

-
Image
  His Majesty Sultan Haitham bin Tariq of Oman's state visit to the UAE signifies a pivotal moment in the longstanding bilateral ties between the two nations, ushering in a new chapter of cooperation and mutual understanding. Today, amidst the grandeur of Abu Dhabi's Sheikh Zayed Grand Mosque, Sultan Haitham was graciously welcomed by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, exemplifying the spirit of hospitality and friendship that characterizes relations between Oman and the UAE. Against the backdrop of this architectural marvel, Sultan Haitham offered prayers for the continued progress and prosperity of both countries and their people, reflecting the shared aspirations for peace, stability, and development in the region. His visit serves as a testament to the deep-rooted historical, cultural, and strategic bonds between Oman and the UAE, reaffirming their commitment to enhancing cooperation across various sectors. As Sultan Haitham engages ...
Read more

Pakistan's President Expresses Gratitude to Allies Amid Economic Challenges

-
Image
In a recent address to a joint session of Pakistan's parliament, President Asif Ali Zardari expressed profound gratitude towards Saudi Arabia, the United Arab Emirates (UAE), and Turkiye for their unwavering support during Pakistan's economic hardships. He emphasized the nation's commitment to strengthening historical, cultural, and economic ties with these nations. The president highlighted that debt rollovers from allies like Saudi Arabia, the UAE, and China have been pivotal in securing financial assistance from the International Monetary Fund (IMF). These commitments facilitated the approval of a $7 billion IMF program last year, currently undergoing its first review. Additionally, Saudi Arabia and the UAE have extended support through loans and deferred oil payments, providing crucial relief to Pakistan's economy. Addressing domestic issues, President Zardari acknowledged the recent surge in militancy, particularly in the Balochistan and Khyber Pakhtunkhwa province...
Read more