Econocom skyrockets ProAV revenue with ICT buyout
The acquisition brings the VAR’s ProAV and digital signage income to €300m
Econocom has acquired 70 per cent of German-headquartered ICT AG from investment bank BWK to bolster its activities in ProAV and digital signage, according to invidis consulting GmbH.
The newly bought company, which generates €40m (£34.3m) in annual sales, brings Econocom’s revenue from ProAV and digital signage to €300m (£257.27m).
Based near Stuttgart, ICT also has branches in Berlin, Munich, Frankfurt/Main, and Cologne.
It operates as a ProAV rental business for automotive companies in the likes of BMW, as well as a provider of digital signage and conference rooms for companies such as Mercedes and Porsche.
Since the COVID-19 pandemic, ICT has also been developing and operating virtual LED film studios across Europe.
ICT’s CEO Christian Pusch and CIO Erik Wolff, board members of the company, will respectively own 15 per cent of the organisation each.
Christoph Blaeser, country manager Germany and Poland at Econocom, will take over as chairman of the supervisory board.
Econocom has purchased BWK’s shares, which had acquired ICT in 2017, after receiving approval from the German Federal Cartel Office (Bundeskartellamt).
This investment comes as Econocom UK MD Israel Garcia recently told CRN that Germany was one of its key European markets outside of France, alongside Spain, Italy, and the UK.
The French company’s home country still represents 45 to 46 per cent of the firm’s total business.
This marks the second buyout made by the organisation in Germany this year.
In January, it purchased an 80 per cent stake in IT refurbishment organisation bb-net media.
These recent moves are part of Econocom’s 2025 ambitions, as the reseller expects a growth higher than in FY24, when its revenue reached €2.74bn, a 3.6 per cent rise from €2.65bn the year prior.
As part of its ‘One Econocom’ plan, the company also intends to generate €4bn in revenue by 2028.
The firm’s UK arm ranks number 93 on CRN’s Top VARs 2025 list.