PRESS RELEASE
4iG Group organises its aerospace and technology portfolio into a standalone subsidiary
4iG Space and Technology to acquire a 45 percent stake in REMRED Space Technologies
- In accordance with the transformation program announced last November, 4iG Plc merges the Group’s aerospace and technology interests into a standalone company to capitalise better the global growth opportunities in the industry.
- The public company establishes 4iG Space and Technology Zrt. (4iG S&T Zrt.) comprising space and satellite development, drone manufacturing and defence, as well as digitalisation of the defence industry.
- 4iG Plc transfers the shares of its space and technology companies to 4iG S&T Zrt. a subsidiary fully owned by the Group.
- The acting CEO of 4iG S&T Zrt. will be István Sárhegyi Dr, co-founder of REMRED Space Technologies Ltd. (REMRED) and Chief of Staff to the Chairman of 4iG Plc, responsible for strategic projects, setting up operational processes, as well as the management and organisational structure of the new holding company.
- Yon Rosenberg, former director of the global satellite operator Spacecom will act as deputy CEO; Sándor Molnár, commercial manager of Hungaro DigiTel, and Balázs Zábori, Chief Space Engineer of REMRED, member of the European Space Agency’s (ESA) lunar mission panel also join the 4iG S&T management.
- 4iG Plc establishes its aerospace and technology holding company, and announced a preliminary agreement to acquire a 45% stake in REMRED Ltd.
- REMRED is the largest Hungarian space engineering company. The Company participates in globally relevant flagship missions as a supplier to the European Space Agency (ESA), NASA and Japanese Space Agency (JAXA).
- REMRED starts the construction of its space technology centre this spring, where complete satellites and space systems can be manufactured, assembled, integrated, and tested.
In the process of the Group transformation program, 4iG transfers its space and technology interests into a holding company
to exploit global growth opportunities more effectively. 4iG Space and Technology Zrt. will be responsible for managing space
and satellite manufacturing, autonomous aircraft development and manufacturing, drone defence, defence industry digitalisation
services, and business strategy of the companies. The aim of the portfolio reorganisation is to increase the Group’s competitiveness,
efficiency, and global market presence in four strategic areas mentioned previously. The process transforms 4iG S&T Zrt. into
a holding company, which directly owns the shares of 4iG Plc technology and aerospace companies, including Rotors and Cams,
RAC Antidrone., Hungaro DigiTel., Spacecom, CarpathiaSat and upon completion of the acquisition, REMRED Ltd. István Sárhegyi
Dr, Chief of Staff to the Chairman of 4iG Group, will act as interim CEO of 4iG Space and Technology Ltd., and will be responsible
for the holding’s strategic leadership at the get go, including the launch of strategic projects and the development of the
company’s management and organisational structure.
Concurrently with the formation of its space and technology holding company, 4iG Plc announced that it had entered into a
preliminary agreement to acquire a 45% stake in REMRED, which will be transferred to the holding company by way of a capital
increase following the formation of the holding company. REMRED Ltd. is a Hungarian aerospace company with nearly 50 years
of space engineering know-how and heritage. The company is a partner and supplier of the world’s leading space agencies (ESA,
NASA, JAXA, DLR). To increase its capacity, the company is in the process of building a 4,000 square metre space technology
centre capable of the manufacturing, assembly, integration, and testing of space systems to meet the growing needs of the
sector, creating at least 85 additional high value-added jobs. The facility planned in the vicinity of the capital of Hungary
– designed with modularity in mind, which makes it unique in Europe – will be capable of the AIT process of satellites weighing
up to 400 kg as well.
“We foresee tremendous growth potential in the space and technology domain, and 4iG Group identified significant return potential
through the exploitation of the sector. Development and production of satellites, related communication and Earth Observation
services, UAV and anti-drone technologies, and the digitalisation of the defence sector are innovative areas that will further
strengthen our Group’s technological capabilities in order to meet our strategic objectives developed together with Rheinmetall," said Gellért Jászai, Chairman of 4iG Group, on today’s announcement. "We see a unique business opportunity in REMRED, and in the potential of the company's soon to be constructed space technology
centre in Hungary. The company’s space industrial developments, satellite manufacturing capabilities and engineering services
can further strengthen 4iG Group’s global presence and contribute to the development of new international partnerships that
can give us a significant competitive advantage throughout the Central and Eastern European region -," he added.
With the acquisition and vertical integration of its aerospace and technology portfolio, 4iG becomes a unique player in the
Central and Eastern European market. 4iG Group expands its activities through the implementation of the Space Technology Centre,
entering the international manufacturing market in addition to providing IT and telecommunications services. Through gaining
manufacturing capabilities and capacity, the Group will be able to develop proprietary and ground-breaking technologies that
directly contribute to the development of Earth Observation capabilities, the creation of satellite connectivity solutions,
and the digitalisation of modern warfare, with a particular focus on the needs of EU and NATO member states. The acquisition
fits well with the medium-term strategy presented jointly by 4iG and Rheinmetall AG, a global player in the defence industry,
last November. In the areas of aerospace, defence digitalisation, autonomous aircraft, and drone defence, the two companies’
combined activities could generate revenues of EUR 1.7-2.3 billion within the next five years. The announced integration of
the aerospace and technology companies, as well as the acquisition of REMRED are not only significant from a business point
of view, but also forms an essential foundation for future cooperation between 4iG and Rheinmetall.
Background information
4iG Group
4iG Plc, a majority Hungarian owned company based in Budapest, Hungary, is the leading telecommunications and IT group in Hungary and the Western Balkans, and one of the leading companies in the knowledge-based, digital economy. Listed on the Budapest Stock Exchange, the Group's fresh and innovative approach and its position as Hungary's leading IT systems integrator make it a leading business services provider in the region's digital transformation. 4iG's dynamic expansion strategy has made it a dominant player in the Hungarian and Western Balkan telecommunications markets. The Group is continuously expanding its services, expertise and portfolio to meet the changing needs and demands of the telecommunications and IT markets. The 4iG Group employs more than 8,000 people in Hungary and the Western Balkans.www.4iG.hu
REMRED
REMRED Ltd. was established as the spin-off company of the Hungarian Centre for Energy Research part of the HUN-REN research network, through which close to 50 years of space heritage was transferred into the Company. REMRED’s team of nearly 100 people is a partner in a number of major missions, working with the world’s leading space agencies such as ESA, NASA, JAXA and DLR. As a partner of the European Space Agency (ESA), REMRED is also a supplier to major NASA and ESA-led space programmes such as the new manned lunar landing programme Artemis - Lunar Gateway Programme, the interplanetary mission Comet Interceptor and the Mars Sample Return Programme to return rock samples from Mars to Earth. The company is also active in space weather, space dosimetry and the design, manufacturing, assembly, integration and testing of specialised space equipment. https://remred.space
For further information please contact:
Péter Elkán
Group Corporate Affairs and
Communications Director
4iG Plc
Email: sajto @ 4ig.hu