PRESS RELEASE
Another strategic acquisition in the domestic telecommunications market: 4iG to acquire Invitech
4iG's telecommunications portfolio expands with one of Hungary's leading telecommunications and infrastructure service providers
Invitech ICT Services Kft. (“Invitech”) will come under the ownership of 4iG PLC (“4iG”), after 4iG has signed the sale transaction with Invitech’s current owner, Rotamona Limited. The acquisition announced on the Budapest Stock Exchange is a significant step in the implementation of 4iG’s telecommunications market growth strategy: Invitech is one of the leading providers in Hungary in the field of telecommunications and IT network infrastructure services. The transaction may be concluded after the consent of the Hungarian Competition Authority (“GVH”).
4iG continues its expansion in the domestic telecommunications market with another strategic acquisition, after signing the transaction documentation with the Cyprus-registered Rotamona Limited for the acquisition of Invitech ICT Services Kft. and its subsidiary InviTechnokom Kft. Upon completion of the transaction announced on the website of the Budapest Stock Exchange, 4iG will acquire 100 percent ownership in one of Hungary's leading providers of telecommunications and infrastructure solutions.
With more than 600 employees and a two-decade long history, Invitech is one of the leading companies in Hungary in the field of high-capacity optical backbone networks and wholesale services for market players. The company provides complex infocommunication services to more than 5,000 corporate, institutional, and wholesale customers. Its portfolio includes broadband business internet, data center, IT security and cloud solutions, as well as voice and IT services. Invitech's own optical network, with 11 crossing points and a total nationwide coverage of 11,000 km, is the second largest in Hungary. The company operates 23,000 end-user IT devices, has five in-house data centers, and its infrastructure services are used by all domestic mobile operators. Last year, Invitech’s consolidated revenue was HUF 24.8 billion and its EBITDA was HUF 9.0 billion. Due to its significant in-house infrastructure and services, the company has stable growth prospects in both business and corporate segments.
“Invitech, one of the key players in the Hungarian infocommunications market, is expected to operate not only in the 4iG telecommunications portfolio, but also be a part of a national telecommunications holding company in the future.” – said Gellért Jászai, President and CEO of 4iG. – “Invitech has strategic assets in the areas of high-speed data communications and network and telecommunications infrastructure. Thanks to its complex services and infrastructure, the company has significant growth potential in the domestic telecommunications market.” – emphasized the President and CEO.
The planned acquisition is an important step in building end-to-end solutions for 4iG, with which, in addition to telecommunications, 4iG will be able to expand its services in areas related to information technology (e.g., cloud, data center, IoT). In the construction of 4iG’s telecommunications portfolio, Invitech's optical backbone network and other data transmission solutions, as well as business communication services, will provide outstanding synergy and growth opportunities.
The transaction completion remains subject to the consent of the Hungarian Competition Authority.
Budapest, 13th September 2021
Further information:
4iG Plc.
Péter Elkán
E-mail: sajto (@) 4ig.hu
www.4ig.hu