Page 41 - SAMENA Trends - December 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

and exceed the increasing demands of of nearly every major CX technology office solutions and move up as a valuable
their customers has never been greater. provider.” Eventus, a key player in providing BPS partner. Navixus™ aligns with this
Companies need to evolve and automate comprehensive customer engagement vision, further enabling Tech Mahindra
or be replaced by those who proactively solutions including strategy consulting, to deliver industry leading digital-first
modernize their operations. Navixus™ will cloud-based tools, and managed services, solutions to its global customers.
provide customers the experience from was acquired by Tech Mahindra with the
global implementations and the integration aim of augmenting its consulting-led front

Space Tech Firms Yahsat and Bayanat to Merge

Two United Arab Emirates (UAE) space tech companies are to
merge to create a AED15 billion (USD4.1 billion) enterprise.
Geospatial solutions provider Bayanat and satellite communications
firm Yahsat will combine to create an AI-powered space technology
company with global reach. The proposed transaction will be
executed through a share swap, with Bayanat as the remaining
legal entity. Bayanat and Yahsat shareholders will own 54% and
46% respectively of the new combined company. Bayanat’s
majority owner G42 will take a 42% stake, while Yahsat shareholder
Mubadala will have a 29% interest. The merger, which is subject to
regulatory approval, is expected to close in the second half of
2024. Tareq Al Hosani, Chairman of Bayanat, said: ‘This merger will
unite two leading home-grown companies to create the MENA
region’s first AI-powered space technology company. Leveraging us to expand across the space value chain and offer an unparalleled
our complementary assets, capabilities and ambitions will allow service to our combined customer base.’

41 DECEMBER 2023