4iG acquires Israeli satellite operator, SpaceCom for $65 million
Jun 22, 2021 | Posted by Abdul-Rahman Oladimeji
4iG has completed the acquisition of SpaceCom, a satellite operator, for $65 million. 4iG is a Hungarian IT firm specializing in software development, cybersecurity, data center, and cloud management offerings. SpaceCom, on the other hand, is an Israeli satellite firm. The president of 4iG, Gellért Jászai, commented on the acquisition. He said that the deal is decisive for both 4iG and Hungary in the space business as it would open new doors for the Company and Country.
CEO of SpaceCom, Dan Zajicek, also said that the deal would help strengthen and widen SpaceCom’s operating potential in Eastern Europe. He further added that it would create synergy and joint ventures between the Companies. Moreover, the acquisition of SpaceCom is the 4iG’s second satellite acquisition of the year as the Company acquired a 75% stake in Hungaro Digitel, a Hungarian satellite telecom Company, in May.