Edison Investment Research - 4iG (4IG) 4iG - Acquisition of TRC

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Edison Investment Research

Richard Williamson

4iG - Acquisition of TRC

As part of its ongoing buy-and-build strategy, 4iG has announced the acquisition of TR Consult (TRC), a specialist IT consultancy focused on the cybersecurity sector. Based in Budapest, TRC addresses a corporate client base in the broader Central Eastern European (CEE) region, as well as in Hungary. TRC was founded in 2007 and is well known to management, having worked with 4iG for the last 10 years. In FY18, TRC had total revenues of c â‚¬2m (HUF0.7bn). The purchase price was not disclosed.

13/07/2020 2 EN

Underlying

4iG

4iG Nyrt, formerly Freesoft Szoftverfejleszto es Szamitatechnikai Szolgaltato Nyrt is a Hungary-based company engaged in providing software products and consultancy. The Company's activities include development and implementation of specific, custom-made software systems, document management, knowledge management, portal and collaboration applications, complex services for business needs in the areas of implementation, support and consultation, intranet- and Internet-based development, services, graphical and creative design, and consultation, design, development and implementation of mobile business applications, as well as operation, support, outsourcing, application service provision (ASP), application portfolio management (APM), hosting and other services. The Company has three subsidiaries: Axis Consuling 2000 Kft, BankSoft Kft and HUMANsoft Kft.

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HU0000071030 Hungary

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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4iG - Acquisition of TRC

4IG: 2 directors

4iG - Executing at pace on its five-year plan

The Rear-View Mirror – EME markets: Polish WIG20 and Hungarian BUX add 11.4% in May, on higher volumes

Information Services Corporation - Strong underlying growth, guidance reiterated

PVA TePla - Material matters

Zalaris - Continuing contract momentum in FY24

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