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Gerald Grace named Invitech CEO

Business IT solutions provider Invitech has announced the appointment of Gerald Grace as Chief Executive Officer. Gerald succeeds David Blunck, who will leave the company by mutual agreement, according to a press release sent to the Budapest Business Journal.

Gerald Grace has been Chief Financial Officer of Invitech since October 2017. He has more than 20 years of experience in the international B2B telecommunications sector. Earlier in his career, he was CFO of GTS Central Europe, and more recently worked in several positions at Six Degrees, a U.K.-based hosting and managed service provider.

"I am honored to lead the Invitech team and to build on the strong legacy that David has created," said Grace. "Under his leadership, Invitech has become a leading player in the Hungarian ICT market focused on the B2B segment. Using Invitech’s extensive fiber and radio networks, coupled with its Tier III data center infrastructure, Invitech is ideally positioned to continue to serve the growing needs of our 6,000 Hungarian business customers with high-quality managed service products including Connectivity, Cloud and IT Services."

"We are pleased to have Gerald on board to lead the business into the next phase of investment, growth, and development," said Tamás Szalai, investment director at CEE Equity Partners. "I would also like to express my appreciation to David for his leadership of Invitech over the last several years and particularly for his successful management of the divestment of the Invitel residential business to Digi Group."