As part of the sale and purchase of shares with its two current owners, 4iG Plc. Would acquire a majority stake in Hungaro DigiTel Kft., Hungary’s leading and one of the leading satellite telecommunications providers in the region, the parties announced on Tuesday morning. Pursuant to a preliminary agreement with Antenna Hungária and Portuguese Telecommunication Investments Kft., Managed by Alpac Capital SA with an international background, the former would sell half of its existing 50% share, the latter would sell the entire share to 4iG.
According to its announcement on the topic of 4iG, the transaction serves not only the development of domestic satellite capabilities but also other strategic goals. According to the intention of the large companies, Hungaro DigiTel, which provides unique services in domestic satellite communications, would implement their joint expansion strategy in the domestic and regional telecommunications market.
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4iG and Antenna Hungária have previously announced that they will enter into a partnership in the establishment of a new, purely Hungarian-owned satellite telecommunications company, CarpathiaSat Magyar űrrtávközlési Zrt., With the aim of launching a satellite for its own telecommunications and research purposes by 2024. . The announcement also indicates that a significant part of Carpathiasat’s capacity will be acquired by Hungaro DigiTel and presumably resold to new and existing partners.
Founded in 1990, Hungaro DigiTel Kft. Is a telecommunications service provider with its own infrastructure (terrestrial satellite transmitting station), which provides various telecommunications solutions – construction, monitoring and operation of telecommunications networks – using satellite, so-called VSAT (Very Small Aperture Terminal) technology. The company, which currently employs 45 people, had sales in excess of HUF 5.2 billion in 2020 and EBITDA of HUF 3.1 billion.
The company’s customers include telecommunications companies (Magyar Telekom, DIGI / Invitel MVM Net), governmental organizations, other large state-owned companies (Szerencsejáték Zrt.), Banks (OTP) and oil companies (Shell, Agip), as well as media companies.
According to 4iG’s announcement on Tuesday, the multi-step transaction may be closed in April after the evaluation of the shares, the conclusion of the final sale and purchase agreement, and the competition law proceedings of the Hungarian Competition Authority.
Source: HWSW Informatikai Hírmagazin by www.hwsw.hu.
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