United Arab Emirates (UAE): Yahsat and analytics provider Bayanat agree to an all-share merger

Dec 23, 2023 | Posted by Abdul-Rahman Oladimeji

In a joint announcement earlier this week, Satellite operator Yahsat and analytics provider Bayanat revealed that they have agreed to an all-share merger. The combined entity will be worth 15 billion dirhams ($4.1 billion), with the new entity named Space42 with Bayanat being the legal entity and its shareholders owning around 54 percent of the merged business, with Abu Dhabi-based Yahsat shareholders holding the rest.

Bayanat chairman H.E. Tareq Al Hosani said, “The merger will unite two leading home-grown companies to create the MENA region’s first AI-powered space technology company. Leveraging our complementary assets, capabilities, and ambitions will allow us to expand across the space value chain and offer an unparalleled service to our combined customer base. 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 added, "The merger is a compelling opportunity to amplify value creation for shareholders, utilizing 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.”