MARKET MOVEMENT
Saudi based Neo Space Group enters agreement to acquire UP42 business
Neo Space Group , NSG , a Public
Investment Fund-owned company and Saudi Arabia ’ s commercial space services provider , has announced that the company has entered into a definitive agreement with Airbus Defence and Space to acquire its UP42 business , a next-generation earth observation digital platform , subject to the satisfaction of customary closing conditions , including required regulatory clearances . UP42 , launched by Airbus in 2019 in Berlin , Germany , is a pioneer in streamlining access to and deriving insights from geospatial data via a cloud-based platform .
UP42 is expected to be part of NSG ’ s growing Geospatial division , building on the acquisition of Taqnia ETS . UP42 ’ s earth observation digital platform provides customers access to data and analytics from 80 + of the world ’ s geospatial companies , making it easy to source and manage diverse data from multiple providers through one seamless interface .
Customers of UP42 can leverage the UP42 platform to solve real-world geospatial challenges and deliver value to their end-customers across a range of market verticals , including agriculture , urban planning , real estate , infrastructure monitoring , disaster management , and more .
Martijn Blanken , NSG Chief Executive Officer , said : “ By integrating the UP42 platform into the Saudi ecosystem , we are positioning NSG to deliver cutting-edge geospatial insights for one of the world ’ s fastest growing economies . This acquisition is
pivotal in fulfilling our vision to lead innovation in the geospatial sector both locally , and globally , and further contribute to the growth of the space economy in Saudi Arabia , in full alignment with Saudi Vision 2030 .”
The announcement further reinforces the strategic role NSG will play in providing EO services , after The Communications , Space , and Technology Commission , CST of Saudi Arabia announced in July this year that NSG had won the permit to provide the Earth Observation , EO Platform Service in Saudi Arabia .
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Halcyon closes $ 100M in Series C funding with valuation at $ 1B
Halcyon has closed $ 100M in Series C funding led by Evolution Equity Partners with participation from Bain Capital Ventures , BCV , SYN Ventures , Harmony Group , Corner Capital Management , Dropbox Ventures , ServiceNow Ventures and existing investors .
Halcyon is the only organisation devoted specifically to defeating ransomware through a unique combination of prevention and resilience by way of a proprietary technology that captures encryption keys and enables organisations to recover from attacks in minutes without ever paying ransoms .
Halcyon developed the first Anti- Ransomware Platform that leverages AI , ML Models specifically trained on ransomware to provide Halcyon ’ s customers with unmatched protection efficacy . Complementing that efficacy , Halcyon ’ s unique Key Capture feature gives organisations peace of mind that impacted devices will not be taken offline , disrupting their business operations and costing them revenue .
Additionally , Halcyon DXP , Data Exfiltration Protection stops ransomware data exfiltration giving organisations greater control over their data and providing an early warning that their network has been infiltrated and , or an attack is in progress . The round brings the total amount raised to $ 190M and values the company at $ 1B . Evolution Managing Partner Richard Seewald is joining the Halcyon Board of Directors . The funding will be used to accelerate the company ’ s growth and strengthen its position as the antiransomware platform provider .
“ Ransomware is unique in cybercrime because of its tangible impact on everyday people . When patients can ’ t get healthcare , workers can ’ t do their jobs , and the most vulnerable among us are directly extorted because their most personal information
Jon Miller
was exfiltrated in a ransomware attack , we are talking about attacks that are unlike any we have seen before ,” said Jon Miller , CEO and Co-Founder , Halcyon .
Halcyon is the only security provider that can effectively prevent and recover from ransomware attacks as well as protect companies and individuals from data extortion schemes . •
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