ADVERTISEMENT

4iG makes binding offer for INNObyte Group

Telco

4iG

Listed IT company 4iG said it made a binding offer for the acquisition of majority ownership in the INNObyte Group and its subsidiary Innoware, according to an announcement on the website of the Budapest Stock Exchange.

4iG and its advisors have completed due diligence of the target group, and the offer has been accepted by the shareholders of INNObyte.

The sale and purchase agreement will be concluded by mid-October, after which 4iG will acquire 70% ownership and control of INNObyte.

Founded in 2014 and headquartered in Budapest, INNObyte is a software development company directly and indirectly employing nearly 200 people. The business had a turnover of more than HUF 3.3 billion last year with an EBITDA of HUF 447 million.

ADVERTISEMENT

Pressure increasing on CFOs - PwC survey Analysis

Pressure increasing on CFOs - PwC survey

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

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.