4iG Nyrt. (BUSE:4IG) entered into a binding offer to acquire 70% stake in Innobyte Informatikai Zartkoruen Mukodo Reszvenytarsasag on September 24, 2020. 4iG Nyrt. (BUSE:4IG) signed a sale share and purchase agreement to acquire 70% stake in Innobyte Informatikai Zartkoruen Mukodo Reszvenytarsasag on October 14, 2020. As a part of the transaction, 4iG will acquire 70% stake in Innobyte and its subsidiary collectively known as group. For the year ended December 31, 2019, the group reported turnover of more than HUF 3.3 billion and EBITDA of HUF 447 million. The offer was accepted by the shareholders of INNObyte. The due diligence phase of the transaction has been completed, during which 4iG and its advisors performed due diligence of INNObyte Group. The sale and purchase agreement will be concluded by the parties until mid-October, after which 4iG will acquire a 70% ownership and control in INNObyte. The transaction is subject to the competition supervision procedure of the Hungarian Competition Authority.