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UAE Government Awards $5.1 Billion, 17-Year Contract to Space42

Dec 17, 2024over 1 year ago

Contract Type

contract

EnergyOil And Gas

Description

Space42, the recently formed UAE-based SpaceTech company, has signed an AED 18.7 billion ($5.1 billion) contract with the UAE Government to provide critical and secure communication services for a further 17 years. This contract makes up a significant majority of Space42’s AED 26 billion ($7.1 billion) backlog of contracted revenues.

Company Information

Company

Space42

About

Dr Bakheet Al Katheeri is the Chief Executive Officer of Mubadala’s UAE Investments platform and is responsible for the development of multiple sectors, including aerospace, technology, infrastructure and more. Dr Al Katheeri serves on various industry boards and committees in the UAE and globally, including Cepsa, Oil Search, Mubadala Energy, Emirates Global Aluminum (EGA), Abu Dhabi Future Energy Company (Masdar), and National Central Cooling Company (Tabreed).

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Agreement Insights

Based on industry data
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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.