Rheinmetall has signed a letter of intent for a strategic investment in the Hungarian IT company 4iG Nyrt.
The company is to become a digitization service provider and IT partner of Rheinmetall, as announced by the armaments company and auto supplier. Rheinmetall wants to take over 25.1 percent of the company’s shares.
The cooperation is intended to help strengthen Rheinmetall’s position as a system house for security technologies in Central and Eastern Europe. The planned cooperation also offers opportunities with regard to the development of civil markets and new fields of technology such as satellite technology. Financial information was not given.
The Rheinmetall share lost 0.55 percent to EUR 83.18 in XETRA trading.
FRANKFURT (Dow Jones)