4iG, Rheinmetall Establish IT JV
Listed Hungarian ICT company 4iG on Wednesday announced the establishment of a local joint venture with German defense industry company Rheinmetall, according to a report by state news wire MTI.
4iG owns 51% of the JV, registered with the court under the name Rheinmetall 4iG Digital Services.
The JV will provide project and operational IT services to Rheinmetall subsidiaries in Hungary and worldwide.
"Based on business requirements and opportunities, the new joint venture plans to progressively expand the scope of its services for internal and external customers alike," 4iG said.
4iG and Rheinmetall signed a preliminary agreement on the JV in May and a shareholders' agreement in November.
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.