► Rheinmetall and 4iG set up Joint Venture in Hungary
4 November 2022 – The joint venture will provide IT services for integrated technology group Rheinmetall
- Rheinmetall AG and 4iG PLC have set up an IT joint venture in Budapest, the latest step in their strategic cooperation.
- 4iG holds a 51% stake in “Rheinmetall 4iG Digital Services LLC” (R4), with Rheinmetall holding the remaining 49% share.
- R4 will provide IT services to Rheinmetall’s local and global subsidiaries starting in 2023, and potentially to third parties as well.
- The new joint venture benefits both parties: it reinforces Rheinmetall’s IT capabilities, while giving 4iG greater access to the global market for IT services.
Rheinmetall and 4iG have been cooperating closely ever since the start of 2022. Their technological and regional strengths and mutual ambitions for growth make them a perfect match. Rheinmetall is a leading player in the defence industry, where the need for IT is continuously rising, and has a strong presence in Western Europe – representing two potential growth areas for 4iG. For its part, 4iG is a leading player in the IT industry and has a strong footprint in Central Eastern Europe – two important growth areas for Rheinmetall. The strategic partnership between the two companies is thus a logical step and has now reached another important milestone. According to the agreement announced today, Rheinmetall and 4iG have set up an IT joint venture in Budapest. 4iG holds 51% stake in the new company, with the remaining 49% held by Rheinmetall. The initial mission of Rheinmetall 4iG Digital Services LLC (R4) is to provide project– and operations-related IT services to Rheinmetall’s local subsidiaries in Hungary and worldwide. Based on business requirements and opportunities, the new joint venture plans to progressively expand the scope of its services for internal and external customers alike.
“International expansion is one of the cornerstones of 4iG’s business strategy, and it drives the Group’s development and our business decisions. The IT joint venture established by Rheinmetall and 4iG is a huge step forward, because we can strengthen not only our position in the field of defence digital services, but also, after the cooperation in Hungary, 4iG will become a global partner of Rheinmetall.” – said Gellért Jászai, Chairman of the 4iG Group.
“Creating this joint venture not only demonstrates our commitment to Hungary”, declares Armin Papperger, Chairman of the Executive Board of Rheinmetall AG. “It also represents an important contribution to Rheinmetall’s capabilities in the field of digital technologies. We see plenty of upside potential in cooperating with 4iG, particularly in this joint venture. We are committed to strong and fruitful cooperation, which is clearly a win-win situation for 4iG and Rheinmetall.”