Wholly owned subsidiary incorporated in Hungary with capital of HUF 3,000,000
GTT Data Solutions has incorporated a wholly owned subsidiary in Hungary named AntWorks Europe Solutions Kft.
By ScoutQuest · · 2 min read
- Initial Registered Capital
- HUF 3,000,000
- Ownership / Subscription
- 100% held, sole member, subscribed in cash at face value
- Registration Order Date
- order dated October 21, 2026
What was announced
GTT Data Solutions Limited, formerly Cinerad Communications Limited, has incorporated a wholly owned subsidiary in Hungary. The entity is named AntWorks Europe Solutions Korlátolt Felelősségű Társaság, abbreviated to AntWorks Europe Solutions Kft. (AESK).
Registration details
- AESK was registered by the Company Registry Court of the Metropolitan Court of Budapest by a registration order dated October 21, 2026.
- It became a wholly owned subsidiary of the Company with effect from October 21, 2026.
- The update refers back to the Company's letter dated August 13, 2026, when the Board approved the proposal for potential incorporation of a wholly owned subsidiary in Hungary.
Money involved
- The entire initial registered capital of AESK is HUF 3,000,000 (Hungarian Forint Three Million), subscribed at face value.
- The consideration is cash, through 100% subscription to that initial registered capital.
Ownership
- The Company holds 100% of AESK and is its sole member, holding the entire registered capital.
What the new subsidiary is set up to do
- Business and other management consulting
- Asset management
- Computer programming
- Information technology consultancy and operation of computer equipment and systems
- Data analytics, AI and other information technology service activities
Why it may matter
- This is a first step of setting up an overseas presence rather than the purchase of a running business; the amount committed as initial capital is HUF 3,000,000.
- The subsidiary sits wholly inside the listed company, so its business and results would be part of the Company's consolidated operations going forward.
- The update states the investment will be made in accordance with the Foreign Exchange Management Act, 1999 and the rules and regulations thereunder, subject to applicable reporting requirements.
What a reader may want to track
- How the subsidiary's business scales from this initial capital.
- Any later updates about capital infusion into AESK or about its operations and results.
More numbers
- Initial registered capital of AESKHUF 3,000,000
- Company's shareholding in AESK100%
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.