Abu Dhabi-based International Holding Company (IHC) is expanding into the space sector through its subsidiary International Tech Group, which will acquire an 80% stake in UAE-based Marlan Holding.
The deal is subject to regulatory approvals, and no financial details were disclosed, according to a statement to the Abu Dhabi Securities Exchange.
Marlan Holding is the parent company of Marlan Space, which invests in space technologies. In August 2024, Marlan Space formed a joint venture with US-based Loft Orbital to launch Orbitworks, a $100M project focused on commercial low Earth orbit satellites.
IHC said the acquisition will support investments in satellite infrastructure, advanced manufacturing and emerging space technologies. The company’s CEO, Syed Basar Shueb, said space is becoming increasingly important to communications, Earth observation, data and artificial intelligence.
Marlan Space CEO Hamdullah Mohib said IHC’s position as majority shareholder would help the company pursue opportunities across the global space economy.
IHC has more than 1,300 subsidiaries and deployed AED14B ($3.8B) into associates, joint ventures, financial assets and real estate properties during the first half of the year.
Source: AGBI
