The majority takeover of ICT is a logical step for Econocom, giving the company access to the German market and several major clients. With 300 million euros in turnover, a new ProAV heavyweight is emerging in Europe.
ICT’s solutions perfectly complement Econocom’s European portfolio. ICT brings its integration and rental business, offering solutions for brand spaces, retail, corporate studios, and simulation, to enhance Econocom’s digital signage and workplace expertise. In recent years, ICT has also gained international recognition for its iconic LED projects featuring advanced mechanics and kinetics.
With nearly 300 million euros revenue in ProAV and over two billion euros in IT, ICT will also benefit significantly from purchasing advantages and economies of scale.
For the DACH digital signage market, Econocom’s entry represents further internationalization and an acceleration of the concept “managed signage” – digital signage delivered as a managed service. Unlike competitors such as Trison, Zetadisplay, and M-Cube, Econocom is a billion-euro group with a strong foundation in the managed services sector.
For “digital signage-only” providers, the takeover could provoke the accceleration of the ongoing market shift toward services – an offering that is increasingly desired by enterprise clients especially. Econocom and other IT providers have discovered the digital signage market and will continue to acquire new players. Further deals are expected in the second half of the year.
