PRESS RELEASE
Spacecom acquisition completing: 4iG enters global industry of space communications
Key facts:
- 4iG Plc. (‘4iG‘) concluded a new agreement on the conditions for the purchase of the share package of Space Communications Ltd. (‘Spacecom‘), which operates and develops AMOS satellite systems, in accordance with the prior approval of the Israeli Ministry of Communications (‘MOC’).
- By Spacecom’s public and private share issue, the Hungarian infocommunication company group can acquire a 20% stake in the company. In the next three years, it can be increased by a further 31%, subject to approval by the Israeli Government and shareholders.
- Global operating Spacecom acquisition represents a significant expansion of competence for 4iG; the group can become leading service provider in all areas of data transmission.
- With Spacecom, the Hungarian commercial satellite project CarpathiaSat can switch to a higher gear, and this acquisition provides a significant technological business and space industry knowledge base.
4iG agreed on the conditions for purchasing the first
step minority package of Spacecom. Pursuant to
this, the infocommunication company can purchase 20% of Spacecom's shares in the
public and private share issue, in accordance with the approval of the Israeli
Ministry of Communications.In three years after closing this transaction announced on Budapest and
Tel Aviv Stock Exchanges, 4iG can increase its share in Spacecom by an additional
31%, on condition of the Israeli Ministry of Communications and the
shareholders agree to the further acquisition.
’We are proud
that after one and a half years of preparation, the Israeli Government agreed
to acquire the minority ownership of Spacecom, which owns and operates critical
infrastructure. By this agreement, 4iG can be the very first Hungarian
enterprise that bears capabilities from landline to space communication assets,
with full-scale and interoperable services in the fields of digitalization and
telecommunications.’ – said Gellért
Jászai, Chairman of 4iG Group, regarding the announcement. ’Spacecom’s know-how and experience greatly
support the launch of the first Hungarian commercial satellite, which may take
place within 4-5 years, thanks to the technology and knowledge transfers
created in connection with this cooperation.’ – added Gellért Jászai.
Spacecom, listed on the Tel Aviv Stock Exchange, offers
broadcast and broadband satellite services to customers worldwide. As it does in
Hungary and the region wth AMOS 3 satellite, using the Hungarian geostationary
orbit until 2024. After this date, Hungary has the opportunity to gain control
over its own orbit and frequency again. CarpathiaSat cPlc. was established
within 4iG Group to take this advantage and according to the plans will launch
and operate the first Hungarian telecommunications satellite on geostationary
orbit. In addition, CarpathiaSat owns the right to operate Hungary’s orbit for
twenty years from 2024. Spacecom acquisition also provides significant
technological and business support for developing the Hungarian commercial
satellite to replace AMOS 3.
Budapest, 29th September 2022
Notes for the editors:
4iG Plc
The Budapest-based 4iG Plc is Hungary’s leading IT systems integrator
with significant interests in the Hungarian and regional telecommunications
markets. The company has been active in the market for innovative,
industry-independent IT technologies for more than 27 years. The company is
continuously expanding its services and portfolio to meet the changing needs
and demands of the ICT market. The Group employs approximately 6,000 people.
4iG is a broad-spectrum solutions provider with significant interest in IT,
telecommunications, satellite telecommunications, and infrastructure
development. The company, listed on the Budapest Stock Exchange, aims to build
a strong market position across a wide range of infocommunication services in
Hungary and the Central-Eastern European and Western Balkan regions. www.4ig.hu/home
More
information:
Péter Elkán
Group
Head of Corporate Affairs and
Communications
peter.elkan
(@) 4ig.hu