Hungary’s 4iG creates separate aerospace and space tech subsidiary

Hungarian ICT-focused conglomerate and network operator group 4iG is regrouping its aerospace and space technology portfolio, which includes Israeli satellite operator Spacecom, into a standalone subsidiary.

The new subsidiary, 4iG Space and Technology, which is set to acquire a 45% stake in local space technology outfit REMRED Space Technology, will be better placed to capitalise on global growth opportunities, according to the company.

4iG Space and Technology will be responsible for managing space and satellite manufacturing, autonomous aircraft development and manufacturing, drone defence, and defence industry digitalisation services.

The new unit will be led by be István Sárhegyi Dco-founder of REMRED Space Technologies and chief of staff to the chairman of 4iG Plc, responsible for strategic projects, setting up operational processes, and the management and organisational structure of the new holding company.

Yon Rosenberg, former director of Spacecom will act as deputy CEO. Sándor Molnár, commercial manager of Hungaro DigiTel, and Balázs Zábori, chief space engineer of REMRED, will also join the 4iG S&T management.

“We foresee tremendous growth potential in the space and technology domain, and 4iG Group identified significant return potential through the exploitation of the sector. Development and production of satellites, related communication and Earth Observation services, UAV and anti-drone technologies, and the digitalisation of the defence sector are innovative areas that will further strengthen our Group’s technological capabilities in order to meet our strategic objectives developed together with Rheinmetall,” said Gellért Jászai, chairman of 4iG Group.

“We see a unique business opportunity in REMRED, and in the potential of the company’s soon to be constructed space technology centre in Hungary. The company’s space industrial developments, satellite manufacturing capabilities and engineering services can further strengthen 4iG Group’s global presence and contribute to the development of new international partnerships that can give us a significant competitive advantage throughout the Central and Eastern European region.”