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Est Media to change name to Delta Technologies

Listed media and telecommunications company Est Media is set to change its name to Delta Technologies, according to a press release sent to the Budapest Business Journal.

The firm is also planning to add new members to its board: János Szlankó and László Hetényi. They will join the four owner-managers of the Delta Group: Zsolt Bártfai, Zoltán Csontos, István Hartmenn, and Levente Pércsi.

The company says the primary aim of changing the company name is to support the businessʼ aims of expanding domestically and internationally via its portfolio of innovative products and services and own technologies. Keeping the expression "Delta" was a major factor in the decision, in order to benefit from name recognition on the market.

"The transaction of Est Media Nyrt. and Delta Group has reached its final phase," said István Papp, chairman of the board at Est Media. "With the new company name hinting at both our innovation and international expansion plans, and the experts joining the board coming with unique market experience, we can start the realization of the companyʼs vision. I believe that, through our growth strategy built on our own product and service portfolio, we can become a real success story on the Hungarian stock market."

"The key to reaching the next step in the case of Delta Group, which has been operating for more than 30 years, posting revenue of more than HUF 30 billion, is presence on the stock market, with its market and financing opportunities," added Bártfai. "Our short-term aim is closing the transaction successfully, and we are planning innovative product development, with organic growth and acquisitions fitting our activities planned in the medium and long term."