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4iG, Rheinmetall Establish IT JV

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Listed Hungarian ICT company 4iG on Wednesday announced the establishment of a local joint venture with German defense industry company Rheinmetall, according to a report by state news wire MTI.

4iG owns 51% of the JV, registered with the court under the name Rheinmetall 4iG Digital Services.

The JV will provide project and operational IT services to Rheinmetall subsidiaries in Hungary and worldwide.

"Based on business requirements and opportunities, the new joint venture plans to progressively expand the scope of its services for internal and external customers alike," 4iG said.

4iG and Rheinmetall signed a preliminary agreement on the JV in May and a shareholders' agreement in November.

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