By the start of this year, few people outside of Hungary will have heard of the IT and communications company 4iG.
However, in the space of just a few months, it has completed a number of key acquisitions and has become a significant player in the telecommunications industry in Central and Eastern Europe.
The first, announced in February and finalized in May, saw the signing of a preliminary agreement with Antenna Hungária (AH) and Portuguese Telecommunication Investments (PTI) to purchase a 75% stake in Hungaro DigiTel (HDT). HDT is one of the leading Hungarian and regional satellite telecommunications companies, providing services through its own terrestrial transmission station.
The transaction was designed to build on the relationship 4iG already has with AH, the Hungarian national transport company. Together with New Space Industries, they started a company, called CarpathiaSat Hungarian Space Telecommunications Corporation, which plans to launch Hungary’s first commercial satellite in 2024.
4iG’s next major transaction took place at the end of March, when it reached a preliminary, non-binding agreement to buy the assets of Digi Communications in Hungary. Romanian company Digi is one of the leading providers of telecommunications services, including pay TV, in the country. Although he recently suffered a heavy blow by being banned from a 5G auction under controversial circumstances, his decision to exit the market was still a surprise.
4iG followed up last month by announcing what will be its first international acquisition. With its subsidiaries HDT and CarpathiaSat, it has committed to acquire 51% of Spacecom, the operator of the Amos satellite system, as part of a $ 65 million agreement which should be finalized this fall.
News of his second international deal didn’t come until July 10, when he agreed to buy a 100% stake in Telenor Montenegro from Czech group PPF. In his comments on the transaction, Gellért Jászai, CEO and Chairman of 4iG, called it in line with 4iG’s regional expansion strategy and said the company sees significant growth potential in the Western Balkan region.
More acquisitions are undoubtedly on the horizon.
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