Latest news with #4iG
Mid East Info
18-07-2025
- Business
- Mid East Info
e& and 4iG Group partner to advance cross-regional digital infrastructure - Middle East Business News and Information
e& and 4iG Group, the leading provider of integrated telecommunications services in Hungary and the Western Balkans, have signed a strategic Memorandum of Understanding (MoU) to explore collaboration across key areas of digital infrastructure. Hatem Dowidar, Group Chief Executive Officer, e&, said: 'Our strategic partnership with 4iG is an important step in strengthening cross-regional digital infrastructure that supports economic growth, resilience, and innovation. Rooted in purposeful innovation and a belief in the power of infrastructure to unlock human potential, we see this collaboration as a platform for long-term projects that bridge continents, empower communities, and accelerate inclusive digital transformation across the Middle East, North Africa, and Europe.' Gellért Jászai, Chairman, 4iG Group, said: 'Partnering with e& opens new avenues for collaboration across fast-growing digital corridors that link Europe with the Middle East and Africa. By combining our regional strength with e&'s global reach, we are building a strategic alliance focused on unlocking long-term value through innovation, infrastructure development, and shared investment opportunities.' The MoU sets the framework for future cooperation between e& and 4iG in the planning, development, and operation of advanced connectivity and data infrastructure. This includes potential joint initiatives in subsea and terrestrial networks, large-scale data centres, and other strategic projects that enhance digital interconnection between the Middle East, North Africa, and Europe. The preliminary scope also includes a jointly developed data centre in Albania to support subsea data traffic, and the potential development of other digital infrastructure in Hungary via e& PPF Telecom. Furthermore, the partnership will aim to cooperate on planning, implementation and operation of Subsea cable projects connecting primarily Middle East, North Africa and Europe. This will support the digital needs of tens of millions in the region, supporting global trade and economic development. By combining e&'s global expertise in telecom infrastructure and network development with 4iG's regional leadership and decades of experience in transit networks across the Western Balkans, the partnership lays the groundwork for scalable digital infrastructure projects and increased cross-border collaboration. This agreement is part of a broader set of strategic MoUs signed by 4iG Group with leading UAE entities, including EDGE Group and Mubadala Investment Company. Together, these partnerships reflect a shared ambition to deepen economic ties between Hungary and the UAE, while advancing cooperation in priority sectors such as digital infrastructure, defence technologies, and strategic investments. This also sets the path for future trade alliances: flexible, strategic, and built on common pillars of sustainable development, innovation, and economic cooperation. About e&: e& is a global technology group committed to advancing the digital future across markets in the Middle East, Asia, Africa and Europe. With the group's financial performance in 2024 showing a consolidated revenue of AED 59.2 billion and a net profit of AED 10.8 billion, e& continues to maintain its position as a financial powerhouse, reflected by its strong credit rating and solid balance sheet. Founded in Abu Dhabi over 48 years ago, e& has evolved from a telecom pioneer into a technology group. Its footprint now spans 38 countries, offering a comprehensive portfolio of innovative digital services ranging from advanced connectivity, entertainment, streaming and financial services to AI-powered solutions, cloud computing, ICT, cybersecurity and IoT platforms. The Group is structured around five core business pillars: e& UAE, e& international, e& life, e& enterprise and e& capital, each catering to distinct customer and market needs. These pillars empower e& to lead in various sectors, from telecom and digital lifestyle to enterprise services and venture investments. The ongoing strategic investments in AI, IoT, 5G and cloud services reinforce its leadership in the global technology landscape, driving the future of smart connectivity and innovation. Driven by innovation, sustainability and a commitment to digital empowerment, e& is set on creating a smarter, more connected future for individuals, businesses and communities. About 4iG Group: 4iG Plc. is a Hungarian majority-owned company based in Budapest. It is a leading telecommunication, IT, aerospace and defence group in Hungary and the Western Balkans, and a key player in the knowledge-based digital economy. The Budapest Stock Exchange-listed company has a fresh and innovative approach, and its position as Hungary's leading IT systems integrator makes it a leading business service provider in the region's digital transformation. 4iG's dynamic expansion strategy has resulted in the company becoming a dominant player in the Hungarian and Western Balkan telecom markets. The Group is continuously expanding its services, expertise, and portfolio to meet the changing needs and demands of the telecom and IT markets. 4iG Group is a substantial employer, with a workforce of over 8,000 people.
TECHx
18-07-2025
- Business
- TECHx
e& Signs MoU with 4iG to Boost Digital Infrastructure
Home » Smart Sectors » Telecom » e& Signs MoU with 4iG to Boost Digital Infrastructure e& and 4iG Group have announced the signing of a strategic Memorandum of Understanding (MoU) to explore collaboration across key areas of digital infrastructure. 4iG Group is a leading provider of integrated telecommunications services in Hungary and the Western Balkans. Hatem Dowidar, Group Chief Executive Officer, e&, said the partnership aims to strengthen cross-regional digital infrastructure that supports economic growth, resilience, and innovation. He emphasized that the collaboration reflects e&'s commitment to purposeful innovation and using infrastructure to unlock human potential. Gellért Jászai, Chairman of 4iG Group, stated that partnering with e& opens new possibilities for collaboration along fast-growing digital corridors linking Europe, the Middle East, and Africa. He noted that the alliance will focus on innovation, infrastructure development, and shared investment opportunities. The MoU outlines plans for future cooperation in the planning, development, and operation of advanced connectivity and data infrastructure. This includes potential joint initiatives such as: Subsea and terrestrial networks Large-scale data centres and strategic digital infrastructure projects The preliminary scope includes a jointly developed data centre in Albania to support subsea data traffic. The partnership also considers expanding digital infrastructure in Hungary through e& PPF Telecom. Moreover, both parties plan to collaborate on subsea cable projects connecting the Middle East, North Africa, and Europe. These initiatives aim to meet the digital needs of millions across the regions and support global trade. The agreement combines e&'s global telecom infrastructure expertise with 4iG's regional experience in transit networks across the Western Balkans. This MoU is part of a broader effort by 4iG Group to deepen UAE-Hungary ties. Other recent agreements include strategic MoUs with EDGE Group and Mubadala Investment Company. These partnerships support cooperation in sectors such as digital infrastructure, defence technologies, and strategic investments. They aim to build flexible, sustainable, and innovation-driven trade alliances.
Reuters
12-06-2025
- Business
- Reuters
Hungary's government to privatise majority of its stake in the defence industry
BUDAPEST, June 12 (Reuters) - Hungary's government plans to sell a large slice of its stake in its defence industry, which includes a holding in Rheinmetall's local factory, to 4iG Group, the Economy Ministry said late on Wednesday. The move comes as nationalist Prime Minister Viktor Orban's government gears up for an election next year, where he is facing his strongest challenge since he returned to power in 2010. Under the terms of the plan, state-owned N7 Holding, which owns stakes in nine defence industry companies, will transfer ownership of the assets to a newly established subsidiary, N7 Defence Zrt. 4iG ( opens new tab subsidiary 4iG SDT will then buy a 75% plus one vote majority in N7 Defence Zrt. The rest of the shares will still be owned by the Hungarian government. The government said it estimates the sale to be worth up to 82.8 billion forints ($238.4 million). The deal includes the government's stake in German defence contractor Rheinmetall's Hungarian subsidiary, the Airbus Helicopters factory, and a firearms factory. Hungary announced a programme to modernise and rearm its military in 2017. Since then, it has bought tanks, helicopters and air defence systems, and invited foreign companies to invest and set up manufacturing plants on its territory. Germany's Rheinmetall ( opens new tab started the production of its new Lynx infantry fighting vehicle in Hungary in 2023. Hungary is a NATO member state that shares a border with Ukraine where Russia's February 2022 invasion started the deadliest war on European soil in more than 70 years. 4iG has in recent years become Hungary's dominant information and communications technology group through acquisitions, lucrative state contracts and organic growth. Its CEO Gellert Jaszai accompanied Orban to Mar-a-Lago in December 2024 where, according to his LinkedIn page, he met U.S. President Donald Trump and Elon Musk. 4iG's share price was up 6.4% by 0722 GMT on Thursday. Opposition leader Peter Magyar said in a statement that the privatisation plan was "tantamount to treason" and urged the government to halt the transaction. According to several polls, Magyar's centre-right Tisza party is ahead of Orban's Fidesz. ($1 = 347.32 forints)
Bloomberg
11-06-2025
- Business
- Bloomberg
Hungary to Privatize Defense Assets in Win for Orban-Backed Firm
Hungary plans to sell company holdings belonging to its state defense industry conglomerate to a unit of telecommunications group 4iG Nyrt, according to statements from the company and the Economy Ministry. Under the proposed deal, 4iG will absorb stakes in defense industry joint ventures held by state-owned N7 Holding, in a two-step transaction. Subsidiaries involved in the transaction include Rheinmetall Hungary Munitions Zrt, Rheinmetall Hungary Zrt and Colt CZ Hungary Zrt, alongside other producers of ammunition, small arms and military hardware.
