ADVERTISEMENT

4iG closes acquisition of Invitech

Deals

Image: Facebook

Listed IT company 4iG on Thursday said it closed the acquisition of peer Invitech after the transaction was cleared by the Competition Office (GVH), according to a report by state news wire MTI.

4iG called the acquisition "a significant step" in the implementation of its telecommunications market growth strategy.

"In the construction of 4iG's telecommunications portfolio, Invitech's optical backbone network and other data transmission solutions, as well as business communication services, will provide outstanding synergy and growth opportunities," it said.

Invitech is a leader on Hungary's telecommunications and IT network infrastructure services market. It has a staff of over 600, some 5,000 clients and the country's second-biggest optical trunk network.

Invitech had revenue of HUF 24.8 billion last year.

ADVERTISEMENT

Average age of coronavirus patients declining Analysis

Average age of coronavirus patients declining

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.