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London, 21 December 2023.- Space42 has been unveiled as the new brand for the enlarged entity following the announcement of the proposed merger of Bayanat and Yahsat earlier this week.
The proposed merger will focus on AI-powered space technology in the MENA region. The companies believe that the combined entity will be optimally positioned to capture regional and international opportunities in geospatial and mobility solutions, satellite communications, and business intelligence.
On completion of the merger H.E. Mansoor Al Mansoori will assume the role of Chairman, Dr. Bakheet Al Katheeri as Vice Chairman and Karim Michel Sabbagh will join as Managing Director of Space42. They will oversee the enlarged entity working closely with the existing management teams of Bayanat and Yahsat. Additionally, the proposed Board of Directors of Space42 will include H.E. Tareq Al Hosani, H.E. Maryam Al Mheiri, Ismail Abdulla, and Kiril Evtimov.
H.E. Mansoor Al Mansoori is a member of the Abu Dhabi Executive Council and the Chairman of the Department of Health in Abu Dhabi. He was previously Chairman of Bayanat, overseeing its IPO alongside being Group Chief Operating Officer of G42.
Dr. Bakheet Al Katheeri is the Chief Executive Officer of Mubadala’s UAE Investments platform. He serves on various industry boards and committees in the UAE and global including.
Karim Michel Sabbagh until recently was the Managing Director and lead for Europe and the Middle East at E-space. He is also the former President and CEO of SES, Chairman of SES ASTRA and a member of the Board of Directors of O3b Networks, prior to its acquisition by SES.
The new board and management team will assume their new roles when the merger becomes effective in the second half of 2024. In the interim, Hasan Ahmed Alhosani and Ali Al Hashemi will continue to lead their companies independently as Managing Director and Group Chief Executive Officer of Bayanat and Yahsat, respectively.
