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4iG enters the Southeast European IT market

4iG Plc. Enters the IT market in South-Eastern Europe after concluding a preliminary agreement to acquire a 70% majority stake in the Belgrade-based IT and network development group of companies, 4iG announced With MTI on Monday

The acquisition may be completed by the end of December following the review of TeleGroup, the conclusion of the final contract and the necessary approvals from the Competition Authority.

Announced: The group of companies with a 28-year professional history is a leading IT systems integrator in Serbia, Bosnia and Herzegovina and Montenegro, which successfully sells its services in Europe and the Middle East through its subsidiaries. TeleGroup provides comprehensive IT solutions and engineering services related to telecommunications infrastructure design to meet the needs of different industries. The group is a leading system integrator in network and data center services, IoT, cybersecurity and managed IT services. as a professional investor. TeleGroup is also a leading service provider in Serbia (TeleGroup Beograd), Bosnia and Herzegovina (TeleGroup Banja Luka) and Montenegro (TeleGroup Podgorica). In addition, the group has its own representation in the United Kingdom and Germany, as well as in the Middle East in Kuwait and Lebanon. The group employs more than 250 people in the Balkans, had consolidated sales of € 64 million in 2020 and EBITDA of € 5.3 million. TeleGroup’s most significant company is TeleGroup Beograd, which achieved EBITDA of EUR 2.2 million with sales of EUR 44 million last year

Gellért Jászai, President and CEO of 4iG Plc. said the agreement with TeleGroup owners is an important step in their growth plans in the Western Balkans. Their goal is to have interests based on strong synergies in the region in the field of telecommunications, telecommunications infrastructure development and IT, he added.

With 4iG shares in the premium category of the Budapest Stock Exchange (BSE). they trade. The shares closed at HUF 1,010 last Friday. Within a year, their highest value was HUF 1,134 and the lowest was HUF 488.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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