LA PLATA, Maryland — Neo Space Group (NSG), the recently created Saudi Public Investment Fund-owned company that will be Saudi Arabia’s spearhead for space telecommunications and Earth observation, is purchasing geospatial imagery digital platform provider UP42 of Germany, the two companies announced Dec. 3.
The transaction, whose financial terms were not announced, is pending regulatory approvals.
It will be NSG’s second acquisition in the geospatial sector after the October purchase of Taqnia ETS, since renamed NSG Geospatial Services . . .
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