WOW! Hungary to conquer space with their satellite?

The first Hungarian commercial satellite will launch in 2024 and will be able to broadcast, to spread Internet and phone service, and to transmit data and help scientific research.

According to szeretlekmagyarorszag.hu, the CarpathiaSat Hungarian Space Telecommunications Corporation will operate the satellite which was founded by 4iG, a company that had been winning public procurements in the Hungarian information technology sector one after the other since 2018 when it became part of the Mészáros-empire. 

The 4iG has 51 pc in the CarpathiaSat Hungarian Space Telecommunications Corporation, and it also obtained the right to control it. Further shareholders are Antenna Hungária Ltd with 44 pc and New Space Industries Ltd with 5 pc. The new company is going to have the right to operate the satellite’s geostationary orbit for 20 years after 2024. 

The strategic goal of the 4iG is to become the leading telecommunications and IT company in the East-Central-European region

by establishing strong positions in the sector. They highlighted that the satellite will be able to broadcast, to spread Internet and phone service, and to transmit data and help scientific research. Moreover, operating it fits well into the long-term development strategy of the 4iG. CEO Gellért Jászai said in a statement that 4iG is 25-year-old this year and launching a satellite means a new, ice-breaking cornerstone in their history providing further business possibilities. 

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The company was founded in 1990 by Hungarian software developers who aimed to create Hungarian competencies on such open-source technologies like Java, Ingres etc. They entered the Hungarian stock market in 2004. Since then,

they have carried out many successful acquisitions

widening their portfolio and activity. Today, among others, they do software development, bank informatics, they implement management schemes, build IT infrastructure and integrate IT applications.

Interestingly, Hungary – as a member of the International Telecommunication Union – had the right to launch their satellite to provide service for the country’s telecommunications needs. However, in 2004, the government leased that orbit to a foreign private company, but the agreement expires in 2024 – napi.hu reported.

The New Space Industries Ltd has been working on the development of the new satellite for two years and it is also part of the current project as an investor.  

Source: szeretlekmagyarorszag.hu