Following the recent announcements made by Bayanat AI PLC (Bayanat) and Al Yah Satellite Communications Company (Yahsat) regarding their proposed merger, the two Abu Dhabi-based entities listed on the ADX have recommended the merger to their shareholders. The combined entity resulting from the merger will be known as Space42. The company’s implied market capitalization stands at 15 billion dirhams ($4 billion).
The merger aims to establish a dominant player in AI-powered space technology within the MENA region, with substantial potential for global expansion and synergies. With a strengthened financial position, enhanced AI-powered technological capabilities, and a diversified product portfolio, the merged entity will be vertically integrated and strategically positioned to capitalize on regional and international opportunities in geospatial and mobility solutions, satellite communications, and business intelligence.
The merger is expected to generate significant revenue synergies and economies of scale, enabling the organization to foster innovation and achieve profitable growth.
Upon completion of the merger, Mansoor Al Mansoori will assume the role of Chairman, Dr. Bakheet Al Katheeri as Vice Chairman, and Karim Michel Sabbagh will join as the Managing Director of Space42. They will work closely with the existing management teams of Bayanat and Yahsat to guide the enlarged entity in capturing opportunities in geospatial and mobility solutions, satellite communications, and business intelligence, both regionally and internationally.
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