Itway

What Itway does

Itway S.p.A. is a publicly listed Italian cybersecurity and IT services group (Euronext Milan: ITW) founded in 1996 and headquartered in Milan, with operations across five countries (Italy, Greece, Turkey, USA, UAE) and approximately 137 employees as of December 2025. The group operates through autonomous Business Units covering three pillars: Cyber Security & Resiliency (24/7/365 managed SOC/NOC services, OT/IT security, GDPR/DORA/NIS2 compliance consulting, and system integration with partners including Zscaler, Fortinet, Radiflow, Axonius, Quest, One Identity, Silverfort, Acronis, and Gyala); Cyber Security Products (Value Added Distribution of cybersecurity and collaboration software in Greece and Turkey, plus EMEA distribution of Zimbra); and proprietary AI-driven products including ICOY (computer vision-based workplace safety with Italian patent granted and European patent pending; sub-products ICOY MOVER, ICOY GUARDIAN, ICOY CRANE) and Itway EdgeCYBER (machine learning on edge for OT security anomaly detection). The group also runs 4Science, a Data Science subsidiary specializing in DSpace-based digital repositories for scientific research and cultural heritage, following the 2024 acquisition of Seacom.

Revenue is generated primarily through transactional VAD distribution and managed security services (90% of revenue mix), with recurring managed services augmenting a smaller hardware and proprietary product line. The customer base is concentrated in regulated enterprise verticals: financial institutions, critical infrastructure operators (energy, ports, maritime), government and public administration (notably Greek banking and PA), industrial manufacturing, and research institutions. Pricing is entirely quote-based enterprise B2B with annual billing cycles and no public disclosure. The company carries ISO 9001, ISO 27001, ISO 45001, and IEC 62443 certifications as gating credentials for regulated buyers. FY 2025 revenue reached EUR 69.988 million (+20% YoY), with H1 2025 revenue up 45% YoY, while the company reported a net loss of EUR 743 thousand as it reinvested in personnel and new product development. Ownership is founder-led, with G. Andrea Farina (Chairman and CEO) holding approximately 29.9% of share capital.

Name

Itway

Legal name

Itway S.p.A.

Website

https://itway.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

Itway S.p.A. is a publicly listed Italian cybersecurity and IT services group offering managed security, OT security, cyber safety, and value-added distribution across five countries, serving regulated enterprises in finance, energy, public administration, and industrial manufacturing.

Ownership category

akta.pro rank

Product category

Cybersecurity and Data Science Solutions

NAICS

Computer Systems Design and Related Services (54151), Computer Facilities Management Services (541513), Computer Systems Design Services (541512)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

IT Governance, Risk & Compliance (IT GRC) Platforms (HDAEALAK)

akta.pro secondary industries

IT Program/Project Management (PMO) & Delivery Assurance (BPAEAAAO), Identity Threat Detection & Response (ITDR) (HDAEAJAH), ITIL/ITSM Process Consulting & Implementation (BPAEAJAB)

Keywords

• Cybersecurity solutions
• Data science platforms
• Cyber safety products
• OT security services
• Managed security services

Headquarters

HQ city

Ravenna

HQ country

Italy

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Cyber Security Products (VAD + PS): Value Added Distribution of specialized Cyber Security and Collaboration products (software and hardware) in Greece and Turkey, with associated certification services, technical assistance and design services, pre and post-sales services. Revenue from Zimbra distribution at EMEA level.
2. Cyber Security & Resiliency Services: Managed security services, IT Services in Cyber Security IT and OT including Cyber Risk Management, GDPR consulting, system integration. Operates 24/7/365 with managed security provider models.
3. Cyber Safety Products (ICOY): Proprietary AI-based workplace safety products (ICOY MOVER, CRANE, GUARDIAN) sold to large industrial groups, with direct and indirect sales through specialized safety operators.
4. Data Science & Big Data: Data Science and Data Management services and solutions for digital repositories of scientific research, cultural heritage and Big Data markets through 4Science.
5. R&D Capitalization: Development investments capitalized as intangible assets, with Euro 1.07 million invested in 2025 (Euro 823 thousand in H1 2025) in new products and services across business units.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels10 records

Core offering

Itway S.p.A. is a multinational group operating in the IT sector, providing cybersecurity products and services, data science solutions, and cyber safety offerings. The company distributes enterprise software (including Zimbra), delivers managed cybersecurity and resiliency services, and develops proprietary platforms such as ICOY (AI-based workplace safety) and Itway EdgeCYBER (operational technology security).

Product overview

Itway operates as a group of business units offering proprietary AI-powered products and cybersecurity services. The core proprietary products include ICOY (AI-based workplace safety using computer vision with sub-products ICOY MOVER, ICOY GUARDIAN, and ICOY CRANE) and Itway EdgeCYBER (AI-powered OT security with machine learning for anomaly detection). The flagship managed services offering is Itway Cyber Security & Resiliency 360, a 24/7 security services portfolio. The group also operates 4Science (Data Science/Big Data subsidiary using DSpace), distributes Zimbra as a VAD across EMEA, and provides value-added distribution of cybersecurity products through Itway VAD in Greece and Turkey.

Differentiator

Problem solved

Functional benefit

Brands

• ICOY: Proprietary patented AI-based product for accident prevention in construction sites and critical industrial environments (EH&S - Environment, Health & Safety). Product lines include ICOY MOVER (dynamic risk detection), ICOY GUARDIAN (static area supervision for industrial facilities), and ICOY CRANE.
• 4Science
• Itway International
• Itway VAD Greece
• Itway VAD Turkey
• Itway Cyber Security & Resiliency 360

Products and services

• ICOY An AI-based workplace safety product developed by Itway, designed to help organizations monitor and improve employee safety in the workplace.
• Itway EdgeCYBER An operational technology (OT) security solution developed by Itway to protect industrial and edge computing environments from cyber threats.
• Itway Cyber Security & Resiliency 360 A managed cybersecurity and resiliency service offering that provides end-to-end security operations for enterprise clients.
• 4Science Data science solutions and services offered by Itway to support enterprise data-driven decision making and analytics initiatives.
• Zimbra Distribution (VAD) Value-added distribution of Zimbra open-source email and collaboration platform to enterprise customers across Itway's geographic markets.

Quantifiable outcome

• Revenue growth of +45% in H1 2025 to EUR 36.232 million
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature7 records

Partnerships

13 partnerships are on record, tiered core and minor.

• ZimbracoreChannel Partner/ Reseller/ Distributor · 1 May 2024Itway International signed Zimbra distribution contract at EMEA level. Zimbra is a collaborative software (groupware) based on open source designed for secure cooperative work. Itway International began distributing Zimbra in May 2024, achieving EUR 1.02 million revenue in H1 2025 and over EUR 2 million in FY 2025.
• RadiflowcoreTechnology or IntegrationPartnership for OT/ICS cybersecurity solutions. Radiflow provides visibility suite for industrial networks, monitoring anomalies from new device entry to suspicious data traffic and firmware modifications. Critical for protecting energy, manufacturing, and transport sectors.
• ZscalercoreTechnology or IntegrationZero Trust cloud security vendor providing secure access to applications and internet. Reduces attack surface for distributed companies with remote workers and SaaS usage.
• Quest SoftwarecoreTechnology or IntegrationActive Directory and hybrid IT governance solutions including migration, administration, backup, disaster recovery, endpoint management, and cloud management.
• AxoniuscoreTechnology or IntegrationAsset management security platform collecting information from hundreds of sources to build comprehensive inventory of devices, applications, users, and cloud services. Identifies coverage gaps automatically.
• FortinetcoreTechnology or IntegrationNetwork security veteran with next-generation firewalls integrated in Security Fabric ecosystem. Covers perimeter security, endpoint security, SD-WAN, SASE, and centralized control.
• SilverfortcoreTechnology or IntegrationIdentity protection platform extending MFA and adaptive policies to all corporate resources including legacy systems, hybrid environments. Uses behavioral analysis for anomaly detection.
• GyalacoreTechnology or IntegrationItalian excellence in automated cyber resilience. AI-based platform detects anomalies and activates real-time countermeasures on IT, OT, and IoT infrastructure, reducing attack response times.
• One IdentitycoreTechnology or IntegrationIdentity security partnership with One Identity recognizing Itway as strong system integrator for Identity Security discipline. Partnership for PAM on AD through Safeguard and ActiveRoles.
• AcroniscoreTechnology or IntegrationStrategic partnership for advanced and resilient cybersecurity. Combines Acronis cyber protection with Itway security expertise.
• INAILcoreStrategic or Co-development PartnerInstitutional partnership for workplace safety. Collaboration with INAIL to integrate best practices in ICOY technology development.
• Bugnion S.p.A.coreImplementation/ SI/ Consulting PartnerPatent attorney firm assisting with European patent application for ICOY technology.
• Gruppo LaurominorStrategic or Co-development PartnerCollaboration for Blue Economy cybersecurity event at Port of Naples, combining maritime expertise with cybersecurity knowledge.

Scale indicators11 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• Tinexta S.p.A. Italian-listed digital trust and cybersecurity group offering cyber consulting, managed security and IT compliance services to enterprise and public sector, directly overlapping with Itway's Cyber Security & Resiliency BU.
• Exprivia S.p.A. Italian IT services company with cybersecurity, digital transformation and data management offerings serving banking, healthcare and public administration - comparable in scale and vertical mix to Itway.
• Nozomi Networks: Pure-play OT/ICS cybersecurity vendor providing anomaly detection and asset visibility for industrial environments - directly comparable to Itway EdgeCYBER.
• Claroty: OT security specialist serving critical infrastructure and industrial enterprises - competes in the same space as Itway's OT security offerings.

Broad incumbents

• Leonardo S.p.A. Italian defense and security conglomerate with a sizable cybersecurity division serving critical infrastructure, government and defense clients across Europe - comparable to Itway's OT security and regulated-segment exposure.
• Reply S.p.A. Italian-listed IT consulting and systems integrator with dedicated cyber security and data practice, comparable to Itway's enterprise integration and managed services model.
• Orange Cyberdefense: European MSSP/MDR provider offering 24/7 managed security services across multiple countries - directly comparable to Itway Cyber Security & Resiliency 360 model.
• Capgemini: Global IT services and systems integration leader with a sizable cybersecurity practice - represents the larger-scale incumbent Itway competes with for multi-country enterprise and government deals.

Regional players

• Allgeier SE: German IT services and MSSP group serving enterprise customers across DACH - comparable to Itway in size, vertical mix and managed-security delivery model.

Emerging players

• Axonius: Cybersecurity asset management and exposure management platform - Itway is a channel partner and competes indirectly in IT GRC and asset visibility solutions for enterprise customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@GruppoItway
• LinkedInlinkedin.com/company/itway
• Xx.com/itway_italy
• Facebookfacebook.com/itwayvad

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Itway