Bayanat AI PLC and AI Yah Satellite Communications Propose Merger: Introducing Space42
Abu-Dhabi based companies Bayanat AI PLC (Bayanat) and AI Yah Satellite Communications Company (Yahsat) recently proposed a merger to their shareholders. Space42, the new merger, is expected to have a capitalization of 15 billion dirhams ($4 billion).
The main objective is to establish a leading force in AI-powered space technology in the MENA region, one that will have the potential for global growth and synergies. Space42 will be vertically integrated and strategically positioned to use the opportunities in the region and the world, as well as geospatial, mobility solutions, satellite communications, and business intelligence. It will have an enhanced financial postition, improved AI-powered technological capabilities, and a diverse product portfolio.
It is expected that Space42 will create important revenue synergies and economies of scale, and provide the organization with the opportunity of fostering innovation and reaching growth.
The position of the Chairman will be taken by Mansoor Al Mansoori, the Vice Chairman will be Dr. Bakheet Al Katheeri, and the Managing Director Karim Michel Sabbagh.
They will work along with the Bayanat and Yahsat teams on guiding the enlarged entity in seizing regional and global opportunities in geospatial and mobility solutions, satellite communications, and business intelligence.
