Rheinmetall, 4iG Set up Joint Venture in Hungary
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Rheinmetall and 4iG have set up an IT joint venture in Budapest, under the name Rheinmetall 4iG Digital Services, according to a press release sent to the Budapest Business Journal.
4iG holds a 51% stake in the new company, with the remaining 49% held by Rheinmetall.
The initial mission of Rheinmetall 4iG Digital Services is to provide project- and operations-related IT services to Rheinmetall’s 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, according to the press release.
"International expansion is one of the cornerstones of 4iG's business strategy, and it drives the group's development and our business decisions. The IT joint venture established by Rheinmetall and 4iG is a huge step forward because we can strengthen not only our position in the field of defense digital services but also, after the cooperation in Hungary, 4iG will become a global partner of Rheinmetall," said Gellért Jászai, chairman of the 4iG Group.
"Creating this joint venture not only demonstrates our commitment to Hungary," noted Armin Papperger, chairman of the executive board of Rheinmetall AG.
"It also represents an important contribution to Rheinmetall's capabilities in the field of digital technologies. We see plenty of upside potential in cooperating with 4iG, particularly in this joint venture. We are committed to strong and fruitful cooperation, which is clearly a win-win situation for 4iG and Rheinmetall," he added.
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