4iG closes acquisition of Invitech
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.
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