Econocom is acquiring 70 percent of ICT AG. With this move, the IT group will generate 300 million euros in revenue from ProAV and digital signage alone, making it the clear market leader in Europe.
ICT AG – known, among other things, for ProAV rentals and fixed digital signage installations – has a new majority shareholder, Econocom.
The listed Belgian-French group is acquiring a 70 percent stake that was owned by the state-owned investment company BWK. The remaining 30 percent will remain with board members Christian Pusch and Erik Wolff.
Attractive gems are rare in the German ProAV and Digital Signage Integration market. But those looking hard enough can still worthwhile investments like ICT. With annual sales of around €40 million, the company is one of the few bigger suppliers in the SME dominated ProAV and digital signage market.
ICT – headquartered in Kohlberg near Stuttgart with branches in Berlin, Cologne, Frankfurt/Main, and Munich – is established both as a ProAV rental company for automotive customers such as BMW and as a provider of fixed installations (digital signage and conference rooms) for Mercedes and Porsche, among others. Since the pandemic, ICT has also been developing and operating virtual LED film studios throughout Europe in partnership with other companies.
Econocom becomes the European market leader
Several European competitors had shown interest in acquiring ICT, but the Belgian-French Econocom emerged as the winner. Through the investment, Econocom has turned into the leading digital signage provider in Germany.
Econocom is a European managed services heavyweight with its own banking license. In 2024, the IT group generated a revenue of €2.74 billion, with approximately 8,500 employees in 16 countries.
ICT board members stay with the company
The European technology group is buying BWK’s shares in ICT after receiving approval from the German Federal Cartel Office. BWK, an investment company based in Baden-Württemberg, has been involved with ICT since 2017. The remaining 30 percent of the company will stay with ICT board members Christian Pusch and Erik Wolff, who plan to continue in their current roles long term.
Christoph Bläser, Chairman of the Management Board at Econocom Deutschland Holding GmbH, will take over as Chairman of the Supervisory Board. ICT will remain an independent company and will join the “Gather with Econocom” business unit in the future.
With the acquisition of ICT Gather with Econocom, the Econocom ProAV and digital signage business unit, generates approximately €300 million in revenue, making it more than twice the size of the digital signage specialist Trison.
