Abu Dhabi conglomerate International Holding Company (IHC) will acquire an 80% stake in UAE-based Marlan Holding, expanding its portfolio into deep tech and the new space economy.
Marlan Holding
Marlan Holding owns space company Marlan Space, whose portfolio spans space systems, autonomous operations and advanced compute.
The value of the deal has not been disclosed. IHC confirmed that it is “in the process” of working on the strategic acquisition.
The acquisition will be made through IHC’s wholly owned subsidiary, the International Tech Group.
Marlan Space founded and operates private space infrastructure company Orbitworks, a joint venture with US-based Loft Orbital that produces commercial satellites at scale.
IHC Ambitions
By connecting Marlan Space with capabilities across the Group, IHC aims to create opportunities for collaboration across technology, data, infrastructure and other sectors where satellite-based capabilities can generate long-term commercial value.
“This acquisition gives IHC a strategic position in the new space economy and provides Marlan Space with access to the Group’s capital, capabilities and Dynamic Value Networks to accelerate its next phase of growth,” Syed Basar Shueb, CEO of IHC, said.
Subject to Approvals
The deal remains subject to customary regulatory approvals and closing conditions.
The Abu Dhabi conglomerate is considered to be the Middle East’s most valuable listed holding company, with more than 1,300 subsidiaries.
IHC reported revenue of AED 64.9B, representing an increase of 34.5% YoY. Gross profit increased by 41.0% to AED 16.8B while earnings per share rose to AED 8.21.
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