Hungarian state purchase EU funding software company

Awards

The Hungarian state closed a deal to buy privately owned software company Welt 2000 Kft., which developed and owns the software that manages the EU tendering processes and distribution of funds, which amount to approximately HUF 1 trillion per year, Hungarian news portal 444.hu reported yesterday.

The lesser-known Welt 2000 was awarded a beneficial contract that made the organizations managing EU funding applications and money distribution through this platform, highly dependent on the software company. After several failed attempts by the state and repeated pressure on the owners to buy the source code or the entire company, a deal was finally reached this week, 444.hu said. Both the management and the employees will continue to work for Welt 2000, which is now 100% state-owned.

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya Analysis

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.