IHC in the UAE plans to acquire 80% of Marlan Holding
International Holding Company (IHC) of Abu Dhabi, UAE, is in the process of acquiring an 80% stake in Marlan Holding to expand its operations in the space sector. The transaction will be carried out through its subsidiary International Tech Group, and its completion is subject to regulatory approvals, The National reports.
IHC said that acquiring a controlling stake would expand the group’s technology portfolio in deep-tech fields and the new space economy. Marlan Holding is the holding company behind Marlan Space, an investor in and operator of companies and technologies in space-related and adjacent fields. Its portfolio includes space systems, autonomous operations and advanced computing technologies.
Satellite systems in Abu Dhabi
Marlan Space founded and operates Orbitworks in Abu Dhabi. It is a private space infrastructure company and a joint venture with the US-based Loft Orbital, created for the serial production of commercial satellites.
Orbitworks designs, builds, tests and operates satellite systems at its facility in the Kezad industrial zone. The enterprise can manufacture spacecraft for Earth observation, communications and complex space missions, as well as specialized payloads.
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The company is also implementing the Altair program, a multi-sensor constellation of Earth observation satellites using artificial intelligence. It combines optical, hyperspectral, thermal, infrared and passive radio-frequency payloads with onboard data processing.
IHC’s plans
IHC Chief Executive Officer Syed Basar Shueb said that space is becoming an increasingly important part of the global technology and infrastructure system, particularly in communications, Earth observation, data and artificial intelligence. According to him, the deal will provide IHC with a strategic position in the new space economy, while Marlan Space will gain access to the group’s capital, capabilities and business network.
IHC operates through more than 1,300 subsidiaries. In the second quarter, its profit rose by 220% year-on-year to 12.8 billion dirhams, or $3.5 billion, while revenue increased by more than a third to 33.4 billion dirhams. Earlier, the company said it intended to invest up to $8 billion in global markets over six months, including in mining, energy and financial services.
