Bayanat and Yahsat have combined to lead the way in AI powered space exploration on a global level
Abu Dhabi and the UAE has already announced their arrival on the space exploration scene this year in sensational circumstances when Sultan Al Neyadi’s become the first Emirati to visit space.
The capital has once again proved they are on their way to more ‘out-of-this-world’ achievements with their commitment to becoming the first AI-powered space technology champion for the Middle East and North Africa after a merger between two major companies was signed this week.
Major technological players Bayanat and Yahsat have combined to make the merger one of the most valuable publicly listed space companies in the world by market cap with further potential for extensive global growth.
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This latest development is a significant milestone for two of Abu Dhabi’s most enterprising companies who now boast a market capitalisation of AED 15 billion ($4.08 billion), based on the closing share prices of both businesses as of 18 December.
The proposed merger of #Yahsat and #Bayanat will establish Space42, which will be guided by a seasoned leadership team with diverse expertise and a track record of success.
Visit the microsite for more info: https://t.co/8VhCPe98HP#TogetherForASharedAmbition pic.twitter.com/CaLsBOAtVB— Bayanat.AI (@Bayanatg42) December 20, 2023
This merger brings together two leading home-grown companies to create the MENA region’s first AI-powered space technology company and leveraging complementary assets, their capabilities and ambitions will allow expansion across the space value chain.
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