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ST Electronics to explore ICT projects with major Hungarian firm

Singapore Technologies Electronics (ST Electronics) has signed a Memorandum of Understanding with one of the five largest IT companies in Hungary to explore Information Communication Technologies (ICT) projects.

The MoU was inked in the Hungarian capital, Budapest, on Tuesday during the Singapore-Hungary Business Forum. With this deal, ST Electronics and its new partner, Albacomp Computers Company, will pursue and implement infrastructure projects that are ICT-based in Hungary’s public and private sectors. The signing was witnessed by Prime Minister Lee Hsien Loong and Hungarian Economics and Transport Minister János Kóka. For a start, both companies have agreed to pursue two projects involving mass transit applications in e-government solutions in Hungary. The new partners expect potential market opportunities worth over $100 million in the near term. (channelnewsasia)