4iG to Boost Stake in Software Developer Innobyte

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Listed IT company 4iG on Friday said it entered into agreements to raise its stake in software developer INNObyte from 70% to 100%, according to a report by state news wire MTI.

4iG acquired its controlling stake in Innobyte in 2020.

Innobyte develops software for the telecommunications, automotive, healthcare, farm, and banking industries. It had net sales revenue of HUF 3.3 billion last year, public records show.

The headcount at the business averaged 69 during the year.

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