UAE-based AI-powered space technology company Space42 has launched the Future Space Pioneers program, a new initiative designed to introduce Emirati students to careers in the space industry and develop practical skills across space technology, artificial intelligence and advanced technologies.

The program will run for between four and 16 weeks at Space42 facilities, combining technical education with hands-on experience and exposure to teams working across different parts of the space industry.

It targets Emirati students studying science, technology, engineering and mathematics (STEM) subjects alongside artificial intelligence, data management and other technical disciplines.

The first cohort includes students from Khalifa University of Science and Technology, Mohamed bin Zayed University of Artificial Intelligence and Zayed University, as well as pupils from schools selected by Abu Dhabi’s Department of Education and Knowledge.

Space42 said it plans to welcome new cohorts twice a year, creating a recurring pipeline connecting schools and universities with professional opportunities in the UAE’s growing space sector.

From University Classrooms to Real Space Operations

Future Space Pioneers is structured to give students early exposure to the technologies and working environments they could encounter in a professional space career.

Participants are selected based on academic and professional criteria, including studying a relevant discipline, meeting a minimum GPA requirement and completing interviews.

The program includes theoretical seminars exploring applications of space technologies and how artificial intelligence can support the analysis of large volumes of data. Students will also undertake practical experiences supervised by industry specialists and work on challenges relevant to companies and the broader sector.

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Alongside technical training, Space42 will focus on workplace capabilities including problem-solving, collaboration, communication and adaptability.

At the end of the program, participants will receive a Space42 certificate recognised by participating partner organisations.

“The future of the space sector is not only linked to the technologies we develop, but also to the people who can understand, apply and develop these technologies in the future,” said Adith Abraham, Vice President of Talent Acquisition and Development at Space42.

AI Is Becoming Increasingly Important to the Space Industry

The initiative also illustrates the growing overlap between artificial intelligence and space technology.

Modern satellites and Earth observation systems can produce enormous volumes of data. AI can help process that information at scale, identify patterns and convert raw geospatial data into insights that governments and businesses can use.

That intersection sits at the centre of Space42’s own business.

The Abu Dhabi-headquartered company was formed in 2024 through the merger of Bayanat and Yahsat, combining satellite communications, geospatial data and artificial intelligence capabilities. Space42 is listed on the Abu Dhabi Securities Exchange under the ticker SPACE42, with G42, Mubadala and IHC among its major shareholders.

Its operations are organised into two main business units. Space Services focuses on satellite operations and fixed and mobile satellite solutions, while Smart Solutions combines geospatial data acquisition and processing with AI to support decision-making and operational efficiency.

That structure gives participating students exposure to an industry extending well beyond traditional satellite engineering into areas such as AI, data science, geospatial intelligence and software.

Space42 Supports UAE’s National Space Strategy 2031

The program forms part of Space42’s contribution to the UAE National Space Strategy 2031, which seeks to develop domestic capabilities and strengthen the country’s position in the global space economy.

Building physical infrastructure, launching satellites and developing advanced AI systems are only part of that ambition. Maintaining a competitive domestic space industry also requires engineers, researchers, data specialists and technology professionals capable of developing and operating those systems over the long term.

For Space42, the Future Space Pioneers program is intended to expose Emirati students to those career possibilities before they enter the workforce.

Abraham said the increasing convergence between space and artificial intelligence is creating greater demand for professionals who combine technical expertise with the ability to address complex practical challenges.

By recruiting students from both universities and schools, the company is also attempting to build that pipeline relatively early rather than waiting until graduates begin looking for employment.

Building a Pipeline of Emirati Space and AI Talent

Space42’s decision to run two cohorts annually could turn the initiative into a longer-term talent development channel rather than a one-off internship program.

The four-to-16-week format gives participants different levels of exposure while partnerships with universities and schools create a mechanism for continuously identifying potential talent.

For students, the program offers an opportunity to understand how academic disciplines such as engineering, AI and data science translate into real-world applications across satellites, geospatial intelligence and other space technologies.

For Space42 and the wider UAE ecosystem, the objective is broader: developing more Emirati professionals capable of working at the intersection of space, AI and advanced technology.

As the UAE continues investing in its space economy, initiatives such as Future Space Pioneers address a less visible but important part of that expansion — ensuring that the growth of sophisticated technology infrastructure is accompanied by a domestic workforce capable of building, operating and advancing it.

UAE-based advanced technology and defence group EDGE has completed the acquisition of Brazilian aerospace engineering specialist AKAER, deepening its presence in Brazil and adding more than three decades of aerospace and defence engineering expertise to the group.

The completion follows the signing of a share purchase agreement between EDGE and AKAER in July 2026. All customary conditions precedent have now been fulfilled, completing a transaction originally structured for EDGE to acquire a 100% stake in the Brazilian company.

As part of the final corporate structure, however, SIATT will hold a minority equity stake in AKAER. The arrangement is designed to preserve AKAER’s classification as an Empresa Estratégica de Defesa (EED), or Strategic Defence Company, in Brazil.

Financial terms of the transaction were not disclosed.

“The completion of this acquisition marks an important milestone for EDGE in Brazil,” said Hamad Al Marar, Managing Director and CEO of EDGE Group. “We look forward to AKAER’s continued contribution to Brazil’s defence ecosystem and to the strength its engineering talent brings to EDGE’s capabilities across the Group.”

AKAER Adds Three Decades of Aerospace Engineering Expertise

Founded more than 30 years ago, AKAER operates across aerospace and defence engineering, providing capabilities covering the complete product lifecycle from initial design through industrialisation.

The acquisition gives EDGE an established engineering base in Brazil alongside a multidisciplinary technical workforce capable of supporting complex aerospace programmes.

When announcing the agreement in July, EDGE said AKAER’s capabilities would help the group strengthen industrialisation timelines for key unmanned aerial vehicle (UAV) programmes while expanding its expertise in areas including optronics, electro-optical and infrared systems, and space-related technologies.

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AKAER and EDGE were already working together before the acquisition, particularly around the development and industrialisation of unmanned systems. That existing relationship provides a foundation for integrating the Brazilian company’s engineering expertise into EDGE’s wider portfolio.

“AKAER brings real engineering depth to EDGE,” Al Marar said when the agreement was announced. “This is a highly specialised team with three decades of experience delivering complex aerospace programmes.”

SIATT Takes Minority Stake to Preserve Brazilian Defence Status

The transaction’s final ownership structure contains an important distinction from the original announcement of EDGE acquiring 100% of AKAER.

EDGE said SIATT will hold a minority equity position under the agreed corporate structure, allowing AKAER to retain its status as an Empresa Estratégica de Defesa.

Preserving that designation is strategically important to AKAER’s position within Brazil’s domestic defence ecosystem and allows the company to continue operating within the country’s framework for strategically important defence businesses.

The structure also reflects EDGE’s broader approach to Brazil, where the UAE group is building local industrial capabilities rather than treating the market solely as a destination for exports.

According to the companies, the transaction is expected to support direct and indirect employment while developing Brazilian technical expertise and advancing strategic technologies and technological sovereignty.

EDGE Deepens Its Industrial Presence in Brazil

AKAER becomes another component of EDGE’s growing investment footprint in Brazil.

The country provides EDGE with an established aerospace and defence industrial base, specialised engineering talent and a platform for developing technologies locally. AKAER’s engineering workforce further strengthens those capabilities, particularly as EDGE expands its unmanned systems portfolio.

The strategic logic extends beyond gaining access to engineering capacity. Aerospace and defence programmes require lengthy development, testing and industrialisation processes, and having engineering capabilities closer to production can provide greater control over how products move from design into manufacturing.

AKAER’s expertise across the complete product lifecycle could therefore help EDGE reduce dependencies between different stages of development and industrialisation.

Its capabilities in optronics and electro-optical and infrared technologies also complement applications across surveillance, targeting, autonomous systems and other advanced aerospace and defence platforms.

Acquisition Builds a UAE-Brazil Aerospace Technology Bridge

The completed acquisition strengthens an increasingly important industrial relationship between EDGE and Brazil.

For AKAER, integration with EDGE provides access to a larger international technology and defence group while maintaining its Brazilian operating base and strategic defence status. For EDGE, the company adds engineering expertise, local industrial capacity and decades of experience delivering complex aerospace programmes.

The acquisition also gives the UAE group another platform from which technologies developed across its businesses can potentially be engineered, adapted and industrialised for different markets.

EDGE has emphasised continuity for AKAER’s employees, existing programmes and customers while pursuing closer integration over time.

With the transaction now completed, the focus shifts from ownership to execution — particularly how AKAER’s Brazilian engineering capabilities will contribute to EDGE’s unmanned systems, aerospace, optronics and space technology programmes.

The deal consequently represents more than an overseas acquisition for the UAE group. It strengthens a cross-border industrial base connecting Emirati investment and advanced defence technology with Brazil’s established aerospace engineering ecosystem.

Saudi fintech PayTabs Group has agreed to acquire Amazon Payment Services’ Middle East and North Africa payments operations in a transaction valued at more than $100 million, according to people familiar with the agreement cited by CNN Economics.

The transaction, which the sources said has been approved by both parties, would significantly expand PayTabs’ footprint across the region and bring Amazon’s regional payments business into the Saudi-born company’s infrastructure.

Following the integration, the combined operation is expected to process more than SAR 150 billion ($40 billion) in transactions annually, giving PayTabs considerably greater scale in a MENA payments market that remains fragmented across countries, banking systems and regulatory frameworks.

The acquisition would also represent a significant consolidation move in the region’s fintech sector, bringing together payment processing, automated transaction switching and payouts within PayTabs’ broader infrastructure.

PayTabs Makes a Major Consolidation Move in MENA Payments

PayTabs has spent years building payment infrastructure across the region, including banking connectivity, regulatory licences and technology designed to help merchants accept and manage digital payments.

Acquiring Amazon Payment Services’ regional operations would substantially accelerate that strategy.

Rather than expanding solely through organic growth and individual market entries, PayTabs would absorb an established payments operation with existing merchant relationships and infrastructure across the Middle East and North Africa.

People familiar with the transaction said the deal is valued at more than $100 million, although an exact purchase price and detailed transaction structure have not been disclosed.

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The combined platform is expected to provide end-to-end payment infrastructure spanning transaction processing, automated switching and payouts, potentially allowing businesses to manage more of their payment operations through a single provider.

For PayTabs, the strategic value therefore extends beyond simply adding transaction volume. The acquisition could strengthen its ability to serve merchants operating across multiple MENA markets, where payment methods, banking connections and regulatory requirements can differ considerably from one country to another.

Combined Business Expected to Process More Than SAR 150B Annually

Scale is one of the most significant elements of the transaction.

The combined operation is expected to process more than SAR 150 billion annually, equivalent to roughly $40 billion, if the acquisition is completed under the current agreement.

That transaction volume would give PayTabs a substantially larger position in the regional payments infrastructure market and could create efficiencies across processing, merchant onboarding, compliance and banking connectivity.

Continuity is expected to be a priority during the integration process, with the companies seeking to minimise disruption to existing operations.

The combined infrastructure is also expected to support faster merchant onboarding and stronger local regulatory compliance, an increasingly important capability as governments and central banks across the region develop more sophisticated frameworks for digital payments and fintech companies.

Integrating the businesses will nevertheless be a critical part of the transaction. Payments infrastructure is deeply connected to merchants, banks and financial institutions, making operational continuity particularly important during any transfer of ownership.

From Payment Frustration to Regional Infrastructure: How Abdulaziz Al Jouf Built PayTabs Into a MENA Fintech Leader

From Saudi Startup to Regional Payments Infrastructure Player

The deal would mark an important step in PayTabs’ evolution from a Saudi-founded fintech into a larger regional payments infrastructure company.

The company has built its business around connecting merchants with payment networks and financial institutions while expanding its regulatory presence across different markets. It has also invested in AI-driven payment technologies and infrastructure capable of managing multiple stages of the transaction process.

The Amazon Payment Services acquisition would bring those investments into a considerably larger operation.

It also comes as payment providers across MENA increasingly compete on infrastructure depth rather than simply providing online checkout services. Merchants operating regionally need payment companies capable of handling local banking relationships, different payment methods, settlement, payouts and country-specific compliance requirements.

Owning more of that infrastructure can improve both economics and control over the payment experience, particularly as transaction volumes increase.

$100M+ Deal Could Reshape MENA’s Payments Market

The acquisition arrives during continued growth in digital commerce and financial technology across the Middle East and North Africa.

While digital payment adoption has expanded, MENA remains a collection of distinct markets with different regulators, banks, currencies and consumer payment preferences. That fragmentation creates complexity but also makes regional infrastructure providers strategically valuable.

By combining Amazon Payment Services’ MENA operations with its existing network, PayTabs would gain additional scale while consolidating several payment functions within a single regional platform.

The transaction is particularly notable because it would see a Saudi-born fintech acquire the regional payments operations of one of the world’s largest technology companies, signalling how far some homegrown MENA financial technology companies have progressed from local startups into regional infrastructure players.

With a deal value exceeding $100 million and combined annual payment volumes projected above SAR 150 billion, the acquisition could become one of the more consequential fintech transactions in the region, strengthening PayTabs’ position as consolidation accelerates across MENA’s digital payments industry.