Econocom has finalized the acquisition of four AV companies across Europe to enhance its market leadership and expand its service offerings, collectively generating approximately €60 million in annual revenue.

Information on the Target

Econocom has made four significant acquisitions in Germany, Spain, Ireland, and the United Kingdom to enhance its audiovisual (AV) capabilities. The companies acquired include ICT, AVANZIA, ISS AV, and parts of Smartcomm. These companies are recognized leaders within their respective locales and sectors, collectively generating an annual revenue of approximately €60 million. The integrated workforce will encompass approximately 750 professionals, including over 200 newly recruited talents within Econocom’s Audiovisual division.

Among the key targets, AVANZIA, based in Madrid, is known for its immersive and museographic AV solutions, with a revenue forecast of €8.1 million for FY24. Meanwhile, ISS AV, operating from Dublin, specializes in equipment installation and maintenance, recording €9.3 million in revenue. The addition of Smartcomm, a reputable player in the English market, strengthens Econocom's portfolio further in both commercial and public sectors.

Industry Overview in the Target’s Specific Country

The AV industry has witnessed substantial growth in Europe, particularly accelerated by the Covid-19 pandemic, which catalyzed increased demand for digital solutions. The overall audiovisual market is projected to grow stead