Group - 01/07/2010
Econocom, a European IT and telecommunications service provider, and Société Générale have entered into exclusive negotiations for the acquisition of the ECS group by Econocom.
Present in 17 countries, with strong positions in Western Europe and subsidiaries in Eastern Europe, Morocco, the US and China, ECS group is specialised in IT infrastructure management. The company delivered revenue of €840 million and EBITDA of €28.1 million (IFRS) in 2009.
The transaction would enable Econocom to significantly increase its market share in a consolidating IT services market, where critical mass is key.
The combined entity would have pro forma revenue of €1.6 billion and would benefit from the high degree of complementarities between the two organisations in terms of geographical coverage, client portfolio and business expertises.
