Italian security and network VAD ICOS SpA has announced that its German subsidiary ICOS Deutschland GmbH has acquired the entire capital of its IT distributor counterpart Brainworks Computer Technologie GmbH for an undisclosed amount. The deal will enhance the development of international markets that began in 2021 with the opening of the ICOS Deutschland subsidiary in Munich.
Founded in 1989 and based in the Bavarian capital, Brainworks is characterised by a proven track record in the indirect market. The company focuses on offering software, networking and security solutions for the enterprise segment, with a customer base of around 2,000 partners in the DACH region (Germany, Austria and Switzerland) and revenues of around EUR 10 million in the year 2022.
Thanks to this acquisition, which involves the incorporation of Brainworks within the structure of ICOS Deutschland, the distributor substantially strengthens its international initiative, being able to count on the services of a fully structured organisation with in-depth knowledge of the dynamics that characterise its target market.
"The merger of our German subsidiary with Brainworks Computer Technologie reinforces the internationalisation path started in 2021, expanding the market coverage of the DACH region and our portfolio in the strategic software and security areas for the enterprise sector", said Federico Marini, CEO of ICOS. "This transaction will allow us to significantly increase our development capacity in the German-speaking markets, laying the foundations to build a path that is fully aligned with our expectations and mirrors the positive feedback we are gathering domestically."
"We are delighted to become part of the ICOS organisation, which will allow us to develop a broader and more specialised offer in the security and enterprise software market, strengthening our skills and sharing experience and background in the DACH region, in support of the internationalisation path of the group to which ICOS SpA belongs", said Derk Steffens, CEO of Brainworks Computer Technologie GmbH.