4iG has concluded a final agreement to buy a 75% stake in the Honeycomb Hungary and Central Europe group of companies for an undisclosed fee.
Honeycomb owns the exclusive right to use the Brisk software and the Brisk media platform based on it. Brisk provides high-level digital media services in Hungary and several countries in Central and Eastern Europe. Following the acquisition, 4iG plans to start selling the system for the advertisement market in the Western Balkans as well, where similar services are currently unavailable, in partnership with featured TV companies in the region.
According to 4iG, Honeycomb media platform is currently one of the world’s most modern and highly automated advertising quality control and transmission systems, developed in Hungary. The cloud-based system is used for quality control of multimedia advertising content optimized for digital, linear, non-linear TV (in other words broadcasting) markets. Besides its outstanding reliability, the system is remarkably scalable and enables easy integration into the diverse markets of the region, which represents an attractive and important capability and value for 4iG.
The acquisition can be completed by the end of this year following competition law procedure.
