Bayanat AI PLC

Ticker/ISIN

BAYANAT

AEE01122B22B

Market/Country

Abu Dhabi Stock Exchange

United Arab Emirates

About Bayanat AI PLC

Bayanat AI PLC, a public company limited by shares incorporated in the Abu Dhabi Global Market (the “Company”) acts as a holding company for its operating subsidiary, Bayanat GIQ PJSC (“Bayanat”). Bayanat was established on 4 February 2008 and initially focused on geographical information systems (“GIS”). Bayanat later expanded into geospatial and data analytics/artificial intelligence (“AI”), leveraging its trusted, high-quality data to provide products and solutions to the most discerning customer. Bayanat became a subsidiary of Mubadala in 2011 and, in 2016, became a division of Emirates Defence Industries Company (“EDIC”). In 2020, Bayanat was acquired by G42 - an Abu Dhabi based global leader in AI and cloud computing focused on exploring the full potential of AI as a tool to drive change across industries and businesses. The integration of Bayanat’s geospatial expertise and G42’s AI capabilities created a synergized geospatial intelligence (“GIQ”) competency that is leveraging the diverse internal ecosystem of G42.

Latest Pressrelease Summaries from Bayanat AI PLC

Bayanat AI PLC and Al Yah Satellite Communications Company PJSC (Yahsat) have successfully launched the UAE’s first Synthetic Aperture Radar (SAR) satellite on August 16, 2024, in collaboration with ICEYE. This satellite, part of the Earth Observation (EO) Space Program, aims to enhance global EO capabilities by providing high-resolution, persistent monitoring solutions. The SAR technology allows for imaging regardless of weather conditions or time of day. This initiative supports the UAE's National Space Strategy 2030 and reinforces its leadership in the space sector. The launch, facilitated by Exolaunch and SpaceX’s Transporter 11 rideshare, marks a significant milestone for Bayanat and Yahsat, highlighting their commitment to advancing the UAE's space capabilities and fostering local talent.

Disclosures: Bayanat and Yahsat Launch UAE’s First SAR Satellite as Part of Ambitious Earth Observation Space Program in Collaboration with ICEYE

4 months ago

Bayanat AI PLC and Oxa have announced a strategic partnership to advance autonomous vehicle technology in the UAE and beyond. Supported by the Abu Dhabi Investment Office (ADIO) under its Smart and Autonomous Vehicle Industry (SAVI) cluster, the collaboration aims to leverage Bayanat’s AI-powered geospatial analytics and Oxa’s autonomous vehicle technologies. The partnership will explore the creation of an Autonomous Mobility Centre of Excellence and promote local talent development. It also plans to create innovative services in the autonomous vehicle sector, with guidance from an advisory board comprising UAE industry representatives and senior leaders from Oxa.

Disclosures: Bayanat AI PLC Announcements

6 months ago

Bayanat and IMKAN Properties have signed a Memorandum of Understanding (MoU) to develop an autonomous and sustainable transportation infrastructure on SHA Island Emirates at AlJurf. The project aims to minimize the use of manned vehicles by implementing an AI-enabled transportation ecosystem for fully autonomous driving. Located between Abu Dhabi and Dubai, the island will focus on health and wellness and will also host the SHA Wellness Clinic. Bayanat will provide the digital infrastructure, including HD maps and positioning, while IMKAN Properties will handle the physical infrastructure development.

Disclosures: Bayanat, IMKAN Properties Ink Agreement on World’s First Healthy Living Island Featuring Autonomous Transportation

7 months ago

The Abu Dhabi Securities Exchange has reported that BAYANAT AI PLC held its Annual General Meeting (AGM) on Thursday, 25 April 2024, at 3:00 pm UAE time. The meeting took place both at the company’s headquarters and virtually. The results and resolutions from the AGM have been attached. The report was signed off by Hasan Ahmed Al Hosani, the Managing Director of BAYANAT AI PLC.

Disclosures: Bayanat AI PLC AGM Results held on 25/04/2024 at 15:00

8 months ago

The Board of Directors of Bayanat AI PLC has invited shareholders to attend an Annual General Meeting (AGM) on 25 April 2024, in person or virtually. The agenda includes appointing a secretary and vote collector, approving financial reports, absolving board members and auditors of liability, appointing external auditors, and not distributing dividends for 2023. The AGM will also discuss a proposed merger with AL YAH SATELLITE COMMUNICATIONS COMPANY PJSC (Yahsat), including the issuance of new ordinary shares, changing Bayanat's legal name to 'Space42 PLC', and appointing seven new board members. The board also seeks authorization to take necessary actions to implement the resolutions. Shareholders can register their attendance electronically to vote on the AGM items.

Disclosures: Bayanat AI PLC Invitation to Attend AGM held on 25/04/2024 at 15:00

9 months ago

The Board of Directors of Bayanat AI PLC issued a written resolution on 12 March 2024 approving the following: the invitation for the Company’s Annual General Assembly meeting to be held on 25 April 2024, the shareholders’ circular related to the company's merger with Al Yah Satellite Communications Company PJSC ("Yahsat”), and the change of Bayanat’s legal name from ‘Bayanat AI PLC’ to ‘Space42 PLC’. The changes are subject to obtaining the approval of the relevant authorities on the merger agreement terms and conditions.

Disclosures: Written Resolution of the Board of Directors of BAYANAT AI PLC

10 months ago

The Board of Directors of BAYANAT AI PLC will issue a written resolution on 12 March 2024 at 4:00 pm. The resolution will address three key points: the invitation to the Company's Annual General Assembly meeting, scheduled for 25 April 2024 at 3:00 pm (UAE time); the approval of the shareholders' circular pertaining to the Company's merger with Al Yah Satellite Communications Company PJSC ("Yahsat"); and the approval of the change of Bayanat's legal name to 'Space42 PLC', along with the amended and restated Articles of Association of the Company. The last point is subject to obtaining approval from relevant authorities on the merger and the terms and conditions of the Merger Agreement.

Disclosures: Bayanat AI PLC Announcements

10 months ago

Abu Dhabi-based company Bayanat, a provider of AI-powered geospatial solutions, reported a 47% increase in revenue for 2023, reaching AED 1.16 Billion. The company's net profit also rose by 15% to AED 232 Million. The growth in revenue was primarily driven by its Smart Operations Solutions and Smart Space Solutions. The company also achieved a zero-debt position in 2023. Despite the growth, net profit as a percentage of revenue was slightly lower due to strategic investments in talent, R&D, product strategy, and new organizational processes. Bayanat is also planning a merger with Yahsat, which will create one of the most valuable publicly listed space companies in the world.

Disclosures: Bayanat AI PLC Press Release on the Financial Results for the Period Ended December 31,2023

a year ago