Econocom boosts Italian public sector operations with Bagnetti buyout

The acquired firm brings over €30m in annual revenue

Econocom has acquired a 51 per cent stake in Italy-based IT solutions provider Bagnetti to boost its public sector operations across Europe.

Headquartered in Rome, the firm serves corporate and public sector clients and generates annual revenue of more than €30m (£25.9m).

Bagnetti will continue to be led by its current management team, made up of Claudio Bagnetti, Giancarlo Bagnetti and Daniela Fefè.

Giancarlo Bagnetti and Fefè will serve as MDs with complementary responsibilities, overseeing general management and support functions, as well as commercial and operational activities, respectively.

The group said the deal also expands its footprint in central Italy while strengthening its specialist capabilities in IT services and the public sector.

The purchase reportedly forms part of Econocom’s One Econocom strategy, which focuses on targeted acquisitions of complementary businesses.

The organisation added that the transaction comes amid growing demand for AI, cybersecurity, managed services and public sector digitalisation projects as well as increasing investment in defence and other specialist sectors where both companies already have an established presence.

“This acquisition is fully in line with our strategy of accelerating growth in high-potential markets through targeted, value-creating partnerships,” said Angel Benguigui, CEO of Econocom.

“Bagnetti’s recognised expertise and long-lasting client relationships, combined with Econocom’s scale and technology portfolio, will strengthen our ability to support organisations, particularly in the public sector, through every stage of their digital transformation.”

Alessio Lechiara, country manager of Econocom Italy, added: “[Bagnetti’s] arrival strengthens our presence in Central Italy, expands our capabilities and creates new commercial opportunities.”

This marks the fourth acquisition made by the organisation over the past 12 months.

In July, it acquired a 70 per cent stake in Germany-based ICT AG alongside a majority stake in engineering and AV company Avanzia.

That same month, Econocom purchased Image Supply Systems Audio Visual (ISS AV) and fully integrated UK-headquartered AV integrator Smartcomm into its brand.

The firm’s UK business ranks number 93 on CRN’s Top VARs list.

The move also comes as the group has revised its financial strategy.

In FY25, earnings reached €2.9bn (£2.5bn), up 4.3 per cent from €2.8bn in FY24.

While the One Econocom plan initially targeted €4bn in revenue by 2028, the group’s full year results led it to change its outlook, with annual revenue growth now expected to range between two and three per cent from 2026 to 2028.

In Q1, turnover dipped 0.2 per cent, or 1.9 per cent organically, to €679m, which the company attributed to supply chain challenges.