UAE’s Space42 Makes Trading Debut on ADX

Space42, the newly-formed company after the merger of Bayanat, a leading AI-powered geospatial solutions provider, and Al Yah Satellite Communications Company, the UAE’s flagship satellite solutions provider on Tuesday made its trading debut on the Abu Dhabi Securities Exchange (ADX) on Tuesday.

Space42 is the UAE’s new AI-powered SpaceTech company with a global reach and the integration of Bayanat’s advanced geospatial analytics and Yahsat’s leading satellite communications with AI capabilities enables Space42 to address the rapidly evolving needs of the global SpaceTech industry, ADX said.

The combined capabilities deliver advanced business intelligence solutions to governments, enterprises, and communities. Led by Karim Michel Sabbagh as Managing Director, Space42 comprises two business units: Yahsat Space Services and Bayanat Smart Solutions.

The Yahsat Space Services unit, led by Yahsat CEO Ali Al Hashemi, focuses on upstream satellite operations for fixed and mobility satellite solutions. The Bayanat Smart Solutions unit, led by Bayanat Managing Director Hasan Al Hosani, integrates geospatial data acquisition and processing with an AI-driven multi-intelligence platform, gIQ.

Operating as one integrated company, the expertise of each unit aids in decision-making, enhances situational awareness, and improves operational efficiency. The executive team includes Andrew Cole as Chief Financial Officer.

Defining Moment

Space42 Chairman Mansoor Al Mansoori said that the launch of Space42 represents a bold step forward, not just for his company, but for the UAE’s vision of becoming a global leader in AI and space technology.

He added: “By integrating the strengths of Bayanat and Yahsat, we are expanding the horizon of what’s possible. Space42 is set to redefine the future of SpaceTech, and we invite the world to join us in this journey of imagination, collaboration, innovation, and boundless opportunity.”

Karim Michel Sabbagh said that Space42 transforms the SpaceTech industry by optimising Bayanat and Yahsat’s complementary strengths and scale. It reflects the UAE’s proactive approach to integrate AI and space technology to identify solutions that positively impact communities.

At the intersection of space and AI, Space42 harnesses innovative, reliable, and cost-effective products and services that meet the expanding demands of our growing customer base, Sabbagh added.

ADX Group CEO Abdulla Salem Alnuaimi said that innovation is a key driver of progress and sustainable development and the merger of two leading entities to create Space42, which is now listed on ADX, represents a major milestone not only for the UAE but also for the global space technology and AI sectors.

“This public listing brings fresh investment opportunities and significant growth potential that will drive Abu Dhabi’s space ambitions while contributing to the nation’s broader economic strategy. We warmly welcome Space42 as the newest member of the ADX family and remain committed to supporting all our listed issuers in their growth and development,” he added.

Role of Space42

As the UAE positions itself firmly in the AI and Space industries, Space42 will contribute to advancing these technologies and solidify the country’s position as a regional leader and a significant player globally. Space42 aligns with the UAE’s accelerating efforts to achieve the objectives of the National Space Strategy 2030 and the AI Strategy 2031.

The business is dedicated to boosting in-country manufacturing, positioning the UAE as a key provider across the space value chain. This commitment enhances national capabilities and strengthens efforts to nurture new generations of space and AI engineers and experts in a dynamic and rapidly evolving sector.