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Spacecom acquisition completes: 4iG enters global space communications industry

2022-09-29 18:02:22Biznes SHKRUAR NGA REDAKSIA VOX
Spacecom acquisition completes: 4iG enters global space communications industry
4iG enters the global space communications industry

4iG Group is the largest Hungarian investor in Albania, after the purchase of One Telecommunications and Albtelecom

Key facts:

-4iG Plc. ('4iG') concluded a new agreement on the terms of the acquisition of the shareholding of Space Communications Ltd. ('Spacecom'), which operates and develops the AMOS satellite systems, subject to the prior approval of the Israeli Ministry of Communications ('MOC').

-With the issuance of public and private shares of Spacecom, the Hungarian group of infocommunication companies can get 20% of the shares in the company. In the next three years, the stake could increase by an additional 31%, subject to approval by the Israeli government and shareholders.

-Spacecom's global operational acquisition represents a significant expansion of expertise for 4iG; the group can become the leading service provider in all areas of data transmission.

-With Spacecom, the Hungarian commercial satellite project CarpathiaSat can move to a more advanced stage, and this acquisition provides an important knowledge base for the technology business and the space industry.

4iG agreed to the terms of the initial purchase of a small stake in Spacecom. Based on this, the infocommunications company can buy 20% of Spacecom's shares in the issuance of public and private shares, in accordance with the approval of the Israeli Ministry of Communications. In three years after the closing of this transaction announced on the Budapest and Tel Aviv Stock Exchanges, 4iG can increase its stake in Spacecom by an additional 31% of the shares, provided that the Israeli Ministry of Communications and shareholders agree to the acquisition further.

"We are proud that after a year and a half of preparation, the Israeli government agreed to acquire ownership of a small package of shares of Spacecom, which owns and operates the basic infrastructure. With this agreement, 4iG can be the first Hungarian enterprise that carries the potential of the transition from fixed to space communication assets, with full-scale and interoperable services in the field of digitization and telecommunications". – said Gellért Jászai, Chairman of the 4iG Group.

"Spacecom's know-how and experience strongly support the launch of the first Hungarian commercial satellite, which could happen within 4-5 years, thanks to the exchange of technology and knowledge created in connection with this cooperation." - he added.

Spacecom acquisition completes: 4iG enters global space communications industry

Spacecom, listed on the Tel Aviv Stock Exchange, provides broadcast and broadband satellite services to customers worldwide, both in Hungary and in the region with the AMOS 3 satellite, using the Hungarian geostationary orbit until 2024. After that date, Hungary has the opportunity to regain control over its orbit and frequency. CarpathiaSat cPlc. was created within the 4iG Group to take advantage of this advantage and plans to launch and operate the first Hungarian telecommunications satellite in geostationary orbit. In addition, CarpathiaSat owns the right to operate in Hungary's orbit for twenty years, from 2024. The acquisition of Spacecom also provides significant technological and business support for the development of the Hungarian commercial satellite to replace AMOS 3.

Budapest-based 4iG Plc is Hungary's leading IT systems integrator with significant interests in the domestic and regional telecommunications markets. The company has been present in the market of innovative IT technologies independent of the industry for more than 27 years. The company is constantly expanding its services and portfolio to meet the changing needs and demands of the info-communication market. The group employs more than 6,000 employees. 4iG is a broad spectrum solutions provider with significant interests in IT, telecommunications, satellite telecommunications and telecommunications infrastructure development. The company, listed on the Budapest Stock Exchange, aims to establish a dominant market position in a wide range of information communication services in Hungary, Eastern Central Europe and the Western Balkans. www.4ig.hu/home


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