4iG to acquire Invitech
Listed Hungarian IT company 4iG on Monday said it signed an agreement to acquire 100% of the shares of Invitech ICT Services from current owner Rotamona Limited (Cyprus), according to a report by state news wire MTI.
The transaction is subject to approval from Hungary's competition office GVH, they added.
Invitech is one of the leading companies in Hungary in the field of high-capacity optical backbone networks and wholesale services for market players. It provides managed ICT 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, 4iG said.
Invitech had consolidated revenue of HUF 24.8 billion last year with EBITDA of HUF 9 bln.
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