Space42 is an Emirati AI powered space technology company formed on 1 October 2024 through the merger of the satellite operator Yahsat and the geospatial data company Bayanat, and listed on the Abu Dhabi Securities Exchange at a valuation of about three billion dollars. It combines two business units, Yahsat Space Services for satellite communications and Bayanat Smart Solutions for geospatial data and artificial intelligence, and it operates a fleet of geostationary satellites including Al Yah 1, Al Yah 2, Al Yah 3, Thuraya 2 and Thuraya 3. The company is expanding its fleet with the synthetic aperture radar satellite Foresight-1, launched in August 2024 as part of the United Arab Emirates Earth observation program, with further satellites planned through 2028.
Facts
Partially Attested
HeadAnnouncement made before the merger completed; the current office-holder is not re-verified Sources
1. Abu Dhabi Media Office, Space42 board of directors and Managing Director
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Karim Michel Sabbagh will join as Managing Director of Space42
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