Two Abu Dhabi-based entities are set to merge, forming one of the world’s most valuable listed space companies. Geospatial data provider Bayanat and Al Yah Satellite Communications (Yahsat) are poised to achieve a market capitalization of Dh15 billion ($4.08 billion), determined by the closing share prices on December 18.
Bayanat Chairman Tareq Al Hosani declared, “This merger will unite two leading home-grown companies to create the MENA region’s first AI-powered space technology company.”
The merger will be executed through a share swap, with Bayanat maintaining its legal identity. Post-merger, the shareholders of Bayanat and Yahsat will hold 54% and 46%, respectively, in the combined business.
Majority-owned by AI and cloud group G42, Bayanat was established after the commercialization of the UAE’s Military Survey Department, providing national-level mapping and geospatial products and services.
Yahsat, a subsidiary of Mubadala Investment Company, extends satellite services to over 150 countries globally. The merger, anticipated in H2 2024, is contingent on regulatory approvals from authorities such as the Securities and Commodities Authority and the Abu Dhabi Global Market Registration Authority.
Until the merger becomes effective, Bayanat and Yahsat will operate independently.
As the space sector witnesses increased participation from private players, this merger underscores the growing competition and strategic alignments in the industry.
