Hungarian ICT group 4iG announced it closed the acquisition of peer IT/network infrastructure solutions provider Invitech after the transaction was cleared by the Competition Office (GVH).
4iG, in an 'extraordinary announcement', called the acquisition "a significant step" in the implementation of its telecommunications market growth strategy.
"In the construction of 4iG's telecommunications portfolio, Invitech's optical backbone network and other data transmission solutions, as well as business communication services, will provide outstanding synergy and growth opportunities," it said.
"We consider Invitech, one of Hungary's leading telecommunications and telecommunications infrastructure service providers, to be a strategic investment. Based on the expertise of the company's employees and the company's professional services, we would like to continue to build on the domestic and international market in the future," said Gellért Jászai, President and CEO of 4iG Plc.
Invitech has a staff of over 600, some 5,000 clients, and the country's second-largest 11,000-kilometre-long optical backbone network, while operating 23,000 end-user IT devices and having five of its own data centers. Invitech's infrastructure services are used by all domestic mobile service providers.
