Latest news with #BayanatAI
Arabian Business
15-05-2025
- Business
- Arabian Business
Space42 focused on building for future growth with its Four Pillars
Armed with a war chest of US$895 million in cash and short-term deposits and contracted future revenues of nearly US$7 billion, UAE's Space42 was focused on capturing the next wave of opportunity in SpaceTech after reporting a muted Q1 earnings. Revenue reached US$115 million for the quarter ending March 31, which was down 13 per cent year-on-year. The company attributed it to 'milestone timing shifts within Bayanat Smart Solutions and transformation towards programmatic market engagement'. Despite revenue being down, Space42 maintained a strong normalised EBITDA margin of 53 per cent and delivered a normalised net profit of US$30 million, in line with Q1 2024. The margin, on a normalised basis, improved by three percentage points to 26 per cent. Space42's strategic growth push Space42 – an AI-powered SpaceTech company that seamlessly integrates satellite communications, geospatial analytics, and artificial intelligence capabilities for customers globally – was formed in October last year following the merger of Bayanat AI, a leading AI-powered geospatial solutions provider, and Al Yah Satellite Communications Company, the UAE's satellite solutions provider. Karim Sabbagh, Managing Director of Space42, commented: 'We entered 2025 with a clear strategy and a platform built to scale. This quarter reinforced our discipline on margins, the momentum across our four strategic pillars and our focus on long-cycle delivery. 'We launched new assets in space, expanded coverage, and advanced programmes that strengthen sovereign capabilities and position us to scale internationally. We are executing a model anchored in differentiated infrastructure and downstream applications in satellite communications and AI-enabled geospatial analytics. 'Our focus is on programmatic and long-term engagements with our key customers. This go-to-market approach is well established within Yahsat Space Services, and the appropriate transformation is underway within Bayanat Smart Solutions. 'Our strategy is demonstrated by the dual-use satellite communication and earth observation platforms we are building and the differentiated outcomes we are delivering across national and international markets, with the latter segment to grow in relevance over time.' Space42's Four Pillars Space42 has identified four pillars for future growth, and continues to execute and drive momentum. These aim for the company to become: Preferred Partner for Premium Geospatial Data Global Leader in Geospatial Intelligence AI Platform Services Global Leader in Non-Terrestrial Connectivity (NTN) Trusted Leader in Secure Connectivity Towards the four pillars, Space42 reported that its Synthetic Aperture Radar (SAR) manufacturing facility is on track to begin production in the second half of 2025. This will enable sovereign production of high-resolution satellites and ensure full deployment of Foresight-3, -4, and -5 satellites. The High-Altitude Platform Station (HAPS) development site in Abu Dhabi is expected to become operational by June 2025. A first in the region, the new facility will deliver more than 20 HAPS unmanned aircraft vehicles annually, supporting civil, environmental, and defense applications. The company has already signed MoUs with FADA and EDGE to establish a national geospatial ecosystem and unlock downstream applications in surveillance, environmental intelligence, and secure mobility, with a total value exceeding US$100 million. Thuraya-4, which was launched successfully and is now in orbit, is on track for commercial service in the second half of 2025. The satellite enables a next-generation mobility platform and a suite of new products offering wider coverage, faster speeds, and enhanced capabilities. IP Neo broadband terminal was launched in Q1, addressing connectivity needs for critical infrastructure, logistics, and maritime sectors across underserved geographies, and Thuraya One smartphone, which was introduced as a commercial precursor to full D2D rollout, will provide seamless integration of satellite and terrestrial networks through a single consumer-grade device. Space42 also said that Al Yah 4 and Al Yah 5 satellite programmes are progressing on schedule and within budget. Several units are now in test phase, with satellite launches planned for 2027 and 2028.
Arabian Business
23-03-2025
- Business
- Arabian Business
Middle East M&A market resilient in 2024 as AI, renewables and infrastructure deals stand out
Middle East mergers and acquisitions (M&A) deals volumes experienced a modest decline of only 4 per cent, from 493 deals in 2023 to 475 in 2024, according to a PwC report. Despite the decline, the region significantly outperformed the global market's decline of 17 per cent. The PwC report, titled 'Bold moves: Big bets, bigger growth, highlighting key mergers and acquisitions (M&A) in the Middle East in 2024', highlights resilience and optimism in the region. Middle East M&A activity Large-scale transactions in AI, renewable energy, and infrastructure fuelled the region's M&A momentum. Romil Radia, Deals Markets Leader, PwC Middle East, said: 'In 2024, the Middle East's M&A market demonstrated remarkable resilience and confidence, driving strategic investments in sectors such as AI, renewable energy and infrastructure. 'The region saw a notable rise in large-ticket deals, reflecting the bold ambitions of investors to accelerate regional diversification, bringing in new capabilities and strategic expertise to strengthen key industries and help develop the newer sectors. 'Sovereign wealth funds and Middle East corporates are actively expanding their global footprint, positioning themselves for an even bigger push in 2025.' Key themes arose within the regional M&A market in 2024 with examples such as: Technology and AI drives business reinvention: Bayanat AI's $1.5bn acquisition of Al Yah Satellite Communication has reinforced its leadership in advanced technology. Moreover, Qatar's Ooredoo secured $550mn to expand AI and data centre infrastructure, further strengthening the region's digital transformation. Meanwhile, Saudi Arabia's 'Project Transcendence,' a $100bn AI investment initiative, underscores the country's long-term commitment to deep tech and innovation Sovereign Wealth Funds (SWFs) continue to shape homegrown economic growth: SWFs continue to prioritise investments in local businesses, industries and projects, where dealmaking will likely increase in sectors critical to the region's long-term economic goals. This could lead to a greater number of domestic deals as companies look to align with national priorities and regulatory frameworks that support local development Green energy transitions drive new investment strategies: Masdar's $2.7bn acquisition of Greece's Terna Energy highlights the Middle East's leadership in renewable energy, reinforcing its commitment to sustainability Increasing private participation aids diversification: Saudi Arabia's healthcare sector now sees 53 per cent of investments coming from the private sector, reflecting the country's push toward economic diversification. Meanwhile, Egypt's historic $35bn ADQ-led investment deal marks a significant step in its privatisation efforts, attracting foreign capital and fostering private sector growth across key industries Global PE could fuel Middle East M&A boom: The global private equity market saw a surge in large-scale transactions, with the number of deals valued over $1bn rising from 430 in 2023 to more than 500 in 2024, driving an 11 per cent rise in average deal sizes. This reflects the global trend of increased asset supply expected to come to the market, driven by the increasing pressure on PE players to exit mature portfolio company investments. In the Middle East, there was a slight uptick in PE deal volumes with inbound deals playing a significant role in PE activity, totalling 108 transactions. Additionally, while only one regional deal exceeding $1bn was recorded in 2023, 2024 saw five such deals, with the largest reaching $3.6bn highlighting growing investor confidence in the region The Middle East's M&A landscape is expected to continue its expansion, with more than 50 per cent of regional CEOs planning acquisitions within the next three years. AI, digital transformation, and sustainability are expected to drive dealmaking, while Saudi Arabia, the UAE and Egypt accelerate privatisation to attract private sector investment. Additionally, cross-border M&A and rising foreign investment are expected to reshape the market, further solidifying the region's position as a global economic hub. The continued creation of new sectors and sustained investment in high-growth areas should provide globally-minded corporations with compelling incentives to invest in the region. These factors will empower dealmakers to unlock significant growth opportunities in 2025 and beyond.
Zawya
21-03-2025
- Business
- Zawya
Bigger, bold M&A deals fuel transformative growth in Mideast region
In 2024, the Middle East's mergers and acquisitions (M&A) market demonstrated remarkable resilience and confidence, driving strategic investments in sectors such as AI, renewable energy and infrastructure, according to a report by PwC Middle East. According to the report, the region's dealmaking landscape was driven by a growing emphasis on innovation and sustainability across various sectors. Despite global headwinds, Middle East deals volumes experienced a modest decline of only 4% - from 493 deals in 2023 to 475 in 2024 - significantly outperforming the global market's decline of 17% and showcasing the region's resilience in M&A activity. Large-scale transactions in Artificial Intelligence (AI), renewable energy and infrastructure have fueled the region's M&A momentum and are expected to continue driving dealmaking, stated PwC Middle East in its latest TransAct Middle East report, titled, "Bold moves: Big bets, bigger growth," highlighting key M&A in the Middle East in 2024. Saudi Arabia, the UAE, and Egypt have accelerated initiatives to attract private sector investment. Sovereign wealth funds and corporations are actively expanding their global footprint, positioning themselves for an even bigger push in 2025. In the Middle East, there was a slight uptick in private equity (PE) deal volumes with inbound deals playing a significant role in PE activity, totalling 108 transactions. While only one regional deal exceeding $1 billion was recorded in 2023, 2024 saw five such deals, with the largest reaching $3.6 billion highlighting growing investor confidence in the region, it added. Romil Radia, Deals Markets Leader, PwC Middle East, said: "In 2024, the Middle East's M&A market demonstrated remarkable resilience and confidence, driving strategic investments in sectors such as AI, renewable energy and infrastructure." "The region saw a notable rise in large-ticket deals, reflecting the bold ambitions of investors to accelerate regional diversification, bringing in new capabilities and strategic expertise to strengthen key industries and help develop the newer sectors," noted Radia. "Sovereign wealth funds and Middle East corporates are actively expanding their global footprint, positioning themselves for an even bigger push in 2025," he added. Key themes arose within the regional M&A market in 2024 with examples such as: *Technology and AI drives business reinvention: Bayanat AI's $1.5 billion acquisition of Al Yah Satellite Communication has reinforced its leadership in advanced technology. Moreover, Qatar's Ooredoo secured $550 million to expand AI and data centre infrastructure, further strengthening the region's digital transformation. Meanwhile, Saudi Arabia's 'Project Transcendence,' a $100 billion AI investment initiative, underscores the country's long-term commitment to deep tech and innovation. *Sovereign Wealth Funds (SWFs) continue to shape homegrown economic growth: SWFs continue to prioritise investments in local businesses, industries and projects, where dealmaking will likely increase in sectors critical to the region's long-term economic goals. This could lead to a greater number of domestic deals as companies look to align with national priorities and regulatory frameworks that support local development. *Green energy transitions drive new investment strategies: Masdar's $2.7 billion acquisition of Greece's Terna Energy highlights the Middle East's leadership in renewable energy, reinforcing its commitment to sustainability. Increasing private participation aids diversification: Saudi Arabia's healthcare sector now sees 53% of investments coming from the private sector, reflecting the country's push toward economic diversification. Meanwhile, Egypt's historic $35 billion ADQ-led investment deal marks a significant step in its privatisation efforts, attracting foreign capital and fostering private sector growth across key industries. According to PwC report, the global private equity market saw a surge in large-scale transactions, with the number of deals valued over $1 billion rising from 430 in 2023 to over 500 in 2024, driving an 11% rise in average deal sizes. This reflects the global trend of increased asset supply expected to come to the market, driven by the increasing pressure on PE players to exit mature portfolio company investments. In the Middle East, there was a slight uptick in PE deal volumes with inbound deals playing a significant role in PE activity, totalling 108 transactions. Additionally, while only one regional deal exceeding $1bn was recorded in 2023, 2024 saw five such deals, with the largest reaching $3.6bn highlighting growing investor confidence in the region, it stated. The Middle East's M&A landscape is expected to continue its expansion, with over 50% of regional CEOs planning acquisitions within the next three years. AI, digital transformation, and sustainability are expected to drive dealmaking, while Saudi Arabia, the UAE and Egypt accelerate privatisation to attract private sector investment. Additionally, cross-border M&A and rising foreign investment are expected to reshape the market, further solidifying the region's position as a global economic hub, he added. The continued creation of new sectors and sustained investment in high-growth areas should provide globally-minded corporations with compelling incentives to invest in the region. These factors will empower dealmakers to unlock significant growth opportunities in 2025 and beyond.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
20-03-2025
- Business
- Trade Arabia
Bigger, bold M&A deals fuel transformative growth in Mideast region
In 2024, the Middle East's mergers and acquisitions (M&A) market demonstrated remarkable resilience and confidence, driving strategic investments in sectors such as AI, renewable energy and infrastructure, according to a report by PwC Middle East. According to the report, the region's dealmaking landscape was driven by a growing emphasis on innovation and sustainability across various sectors. Despite global headwinds, Middle East deals volumes experienced a modest decline of only 4% - from 493 deals in 2023 to 475 in 2024 - significantly outperforming the global market's decline of 17% and showcasing the region's resilience in M&A activity. Large-scale transactions in Artificial Intelligence (AI), renewable energy and infrastructure have fueled the region's M&A momentum and are expected to continue driving dealmaking, stated PwC Middle East in its latest TransAct Middle East report, titled, "Bold moves: Big bets, bigger growth," highlighting key M&A in the Middle East in 2024. Saudi Arabia, the UAE, and Egypt have accelerated initiatives to attract private sector investment. Sovereign wealth funds and corporations are actively expanding their global footprint, positioning themselves for an even bigger push in 2025. In the Middle East, there was a slight uptick in private equity (PE) deal volumes with inbound deals playing a significant role in PE activity, totalling 108 transactions. While only one regional deal exceeding $1 billion was recorded in 2023, 2024 saw five such deals, with the largest reaching $3.6 billion highlighting growing investor confidence in the region, it added. Romil Radia, Deals Markets Leader, PwC Middle East, said: "In 2024, the Middle East's M&A market demonstrated remarkable resilience and confidence, driving strategic investments in sectors such as AI, renewable energy and infrastructure." "The region saw a notable rise in large-ticket deals, reflecting the bold ambitions of investors to accelerate regional diversification, bringing in new capabilities and strategic expertise to strengthen key industries and help develop the newer sectors," noted Radia. "Sovereign wealth funds and Middle East corporates are actively expanding their global footprint, positioning themselves for an even bigger push in 2025," he added. Key themes arose within the regional M&A market in 2024 with examples such as: *Technology and AI drives business reinvention: Bayanat AI's $1.5 billion acquisition of Al Yah Satellite Communication has reinforced its leadership in advanced technology. Moreover, Qatar's Ooredoo secured $550 million to expand AI and data centre infrastructure, further strengthening the region's digital transformation. Meanwhile, Saudi Arabia's 'Project Transcendence,' a $100 billion AI investment initiative, underscores the country's long-term commitment to deep tech and innovation. *Sovereign Wealth Funds (SWFs) continue to shape homegrown economic growth: SWFs continue to prioritise investments in local businesses, industries and projects, where dealmaking will likely increase in sectors critical to the region's long-term economic goals. This could lead to a greater number of domestic deals as companies look to align with national priorities and regulatory frameworks that support local development. *Green energy transitions drive new investment strategies: Masdar's $2.7 billion acquisition of Greece's Terna Energy highlights the Middle East's leadership in renewable energy, reinforcing its commitment to sustainability. Increasing private participation aids diversification: Saudi Arabia's healthcare sector now sees 53% of investments coming from the private sector, reflecting the country's push toward economic diversification. Meanwhile, Egypt's historic $35 billion ADQ-led investment deal marks a significant step in its privatisation efforts, attracting foreign capital and fostering private sector growth across key industries. According to PwC report, the global private equity market saw a surge in large-scale transactions, with the number of deals valued over $1 billion rising from 430 in 2023 to over 500 in 2024, driving an 11% rise in average deal sizes. This reflects the global trend of increased asset supply expected to come to the market, driven by the increasing pressure on PE players to exit mature portfolio company investments. In the Middle East, there was a slight uptick in PE deal volumes with inbound deals playing a significant role in PE activity, totalling 108 transactions. Additionally, while only one regional deal exceeding $1bn was recorded in 2023, 2024 saw five such deals, with the largest reaching $3.6bn highlighting growing investor confidence in the region, it stated. The Middle East's M&A landscape is expected to continue its expansion, with over 50% of regional CEOs planning acquisitions within the next three years. AI, digital transformation, and sustainability are expected to drive dealmaking, while Saudi Arabia, the UAE and Egypt accelerate privatisation to attract private sector investment. Additionally, cross-border M&A and rising foreign investment are expected to reshape the market, further solidifying the region's position as a global economic hub, he added.
Khaleej Times
20-03-2025
- Business
- Khaleej Times
Bold and bigger deals fuel transformative growth in the Middle East
Despite global headwinds, Middle East deals volumes experienced a modest decline of only four per cent - from 493 deals in 2023 to 475 in 2024 - significantly outperforming the global market's decline of 17 per cent and showcasing the region's resilience in M&A activity. According to PwC Middle East's latest TransAct Middle East report, titled Bold moves: Big bets, bigger growth, large-scale transactions in AI, renewable energy, and infrastructure have fueled the region's M&A momentum. The report highlights key mergers and acquisitions (M&A) in the Middle East in 2024. According to the report, the region's dealmaking landscape was driven by a growing emphasis on innovation and sustainability across various sectors. The Middle East's M&A landscape is expected to continue its expansion, with over 50 per cent of regional CEOs planning acquisitions within the next three years. AI, digital transformation, and sustainability are expected to drive dealmaking, while Saudi Arabia, the UAE and Egypt accelerate privatisation to attract private sector investment. Additionally, cross-border M&A and rising foreign investment are expected to reshape the market, further solidifying the region's position as a global economic hub. Key themes arose within the regional M&A market in 2024 with examples such as: Technology and AI drives business reinvention: Bayanat AI's $1.5 billion acquisition of Al Yah Satellite Communication has reinforced its leadership in advanced technology. Moreover, Qatar's Ooredoo secured $550 million to expand AI and data centre infrastructure, further strengthening the region's digital transformation. Meanwhile, Saudi Arabia's 'Project Transcendence,' a $100 billion AI investment initiative, underscores the country's long-term commitment to deep tech and innovation. ● Sovereign Wealth Funds (SWFs) continue to shape homegrown economic growth: SWFs continue to prioritise investments in local businesses, industries and projects, where dealmaking will likely increase in sectors critical to the region's long-term economic goals. This could lead to a greater number of domestic deals as companies look to align with national priorities and regulatory frameworks that support local development. ● Green energy transitions drive new investment strategies: Masdar's $2.7 billion acquisition of Greece's Terna Energy highlights the Middle East's leadership in renewable energy, reinforcing its commitment to sustainability. ● Increasing private participation aids diversification: Saudi Arabia's healthcare sector now sees 53 per cent of investments coming from the private sector, reflecting the country's push toward economic diversification. Meanwhile, Egypt's historic $35 billion ADQ-led investment deal marks a significant step in its privatisation efforts, attracting foreign capital and fostering private sector growth across key industries. ● Global PE could fuel Middle East M&A boom: The global private equity market saw a surge in large-scale transactions, with the number of deals valued over $1 billion rising from 430 in 2023 to over 500 in 2024, driving an 11 per cent rise in average deal sizes. This reflects the global trend of increased asset supply expected to come to the market, driven by the increasing pressure on PE players to exit mature portfolio company investments. In the Middle East, there was a slight uptick in PE deal volumes with inbound deals playing a significant role in PE activity, totalling 108 transactions. Additionally, while only one regional deal exceeding $1 billion was recorded in 2023, 2024 saw five such deals, with the largest reaching $3.6 billion highlighting growing investor confidence in the region. Romil Radia, Deals Markets Leader, PwC Middle East, stated: 'In 2024, the Middle East's M&A market demonstrated remarkable resilience and confidence, driving strategic investments in sectors such as AI, renewable energy and infrastructure. The region saw a notable rise in large-ticket deals, reflecting the bold ambitions of investors to accelerate regional diversification, bringing in new capabilities and strategic expertise to strengthen key industries and help develop the newer sectors. Sovereign wealth funds and Middle East corporates are actively expanding their global footprint, positioning themselves for an even bigger push in 2025.' The continued creation of new sectors and sustained investment in high-growth areas should provide globally-minded corporations with compelling incentives to invest in the region. These factors will empower dealmakers to unlock significant growth opportunities in 2025 and beyond.
