The acquisition will give IHC exposure to the space technology and deep-tech sectors, including satellite infrastructure, advanced manufacturing and related technologies, the company said in a statement.

Marlan Space is an investor and operator focused on space and space-related companies and technologies, with investments spanning space systems, autonomous operations and advanced computing.

The company founded Orbitworks, a joint venture with US-based Loft Orbital, which it describes as the Middle East's first private space infrastructure company. Orbitworks is based in Abu Dhabi and develops, builds, tests and operates satellite systems.

Its flagship programme, Altair, is an Earth-observation satellite constellation that combines optical, hyperspectral, thermal, infrared and passive radio-frequency sensors with artificial intelligence and onboard processing, stated Marlan Space.

Orbitworks is assembling the satellites at its facility in the Khalifa Economic Zones Abu Dhabi (KEZAD), with the first Altair satellite completed and additional satellites under assembly, it added.

On the strategic buy, IHC Chief Executive Syed Basar Shueb said: "Space is becoming an increasingly important part of the global technology and infrastructure landscape, with applications extending across communications, Earth observation, data, AI and many other sectors." 

The acquisition would give IHC a position in the space economy while providing Marlan Space with access to the group's capital and other resources, added Shueb.

Marlan Space CEO Hamdullah Mohib said the deal would allow the company to expand its capabilities and partnerships and pursue opportunities in the global space economy.

The transaction comes as the space industry attracts investment on expectations of lower launch costs, increased demand for satellite-based data and services and greater government spending on domestic space capabilities, he noted.

The Abu Dhabi group said its investment in Marlan Space would complement its existing exposure to artificial intelligence, digital infrastructure and other technology-related sectors.

The group said it plans to explore opportunities to link satellite-based capabilities with its investments in technology, data and infrastructure, it added.