ICOS Spa

What ICOS Spa does

ICOS S.p.A. is a Value Added Distributor (VAD) headquartered in Bolzano, Italy, with additional operational offices in Ferrara, Milano, and Verona, and a German subsidiary (ICOS Deutschland GmbH) acquired in 2022. Founded in 1987 and wholly owned by SeSa S.p.A., the company distributes IT infrastructure and cybersecurity solutions from a portfolio of 40+ global vendors — including Sophos, Akamai, XM Cyber, xFusion, NetApp, Sangfor, ESET, Qualys, CyberArk, Vinchin, and FileWave — exclusively to channel partners (IT resellers, system integrators, and software houses) in Italy and the DACH region. ICOS does not develop proprietary technology; its core offering is aggregation, technical pre/post-sales support, partner training, demand generation, and joint marketing services layered over third-party enterprise products.

The company reported combined Italy + Germany revenue of €104.7 million for FY 2022/2023 (fiscal year ending April 2023), a 16.5% increase year-over-year, alongside a 23% increase in national headcount and a 29% expansion of the vendor portfolio from 31 to 40 brands. ICOS supports SMB to mid-market enterprise end customers through resellers with curated bundles (e.g., Sangfor-xFusion HCI, Qualys VMDR TruRisk SMB packaging, NetApp ExpressPack) and category-specific solutions spanning cybersecurity (Zero Trust, BAS, endpoint, IAM/PAM, DLP, SIEM) and infrastructure (HCI, servers, hyperconverged cloud, backup/DR, networking).

Revenue streams are split between one-time license resale of distributed hardware and software, and recurring subscription / consumption-based billing for cloud, managed, and multi-year deferred services. Pricing is quote-based and disclosed only to authorized channel partners. ICOS generates margin on product resale, recurring cloud and managed service billings, and fees associated with technical, training, and marketing services; channel enablement and joint marketing with vendors (e.g., Akamai Zero Trust webinar program, ESET Cyber Security Partner Days, ICOSXperience annual event) are central to demand generation. The company holds ISO 9001:2015 certification (renewed 2024-2027, originally certified February 2000) and is a member of Clusit, the Italian IT Security Association.

Name

ICOS Spa

Legal name

ICOS S.p.A.

Website

https://icos.it

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

ICOS S.p.A. is a wholly-owned SeSa S.p.A. subsidiary that operates as a Value Added Distributor (VAD) of IT infrastructure and cybersecurity solutions, distributing 40+ global vendor brands to channel partners (resellers, integrators, software houses) across Italy and the DACH region through technical, training, and marketing services.

Ownership category

akta.pro rank

Headquarters

HQ city

Ferrara

HQ country

Italy

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Distribution of IT Infrastructure Solutions: ICOS operates as a Value Added Distributor (VAD) selling hardware, software, appliances, and support services from national and international vendors to channel partners (software houses, system integrators, IT resellers). Revenue is generated through the resale of products and services with associated margins and service fees.
2. Subscription and Cloud Services: The company distributes cloud services, managed services, prepaid services, and consumption-based services. Billing is done periodically based on consumption reported by the Vendor or the Partner, covering both recurring subscription and usage-based revenue streams.
3. Multi-Year and Deferred Billing Services: ICOS handles licenses or services with deferred or multi-year billing, where Partners pay on a periodic basis (monthly, quarterly, annual) according to specific contract terms. Revenues from these arrangements are recognized over the contract duration.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

ICOS Spa is a Value Added Distributor (VAD) that distributes enterprise IT infrastructure and cybersecurity solutions from approximately 40 global technology vendors exclusively through IT channel partners — resellers, system integrators, and software houses — in Italy and Germany. The company augments product distribution with value-added services including pre-sales technical support, post-sales assistance, partner training, demand generation, and joint marketing activities, and offers multi-year and consumption-based billing orchestration.

Product overview

ICOS Spa is a Value Added Distributor (VAD) providing infrastructure and cybersecurity solutions to the IT channel in Italy. The company operates a multi-vendor portfolio of approximately 60 technology brands, organized around two core solution areas: Cybersecurity (including XM Cyber breach and attack simulation, TrustBuilder MFA, Akamai cloud security, ESET endpoint protection, Qualys vulnerability management, CyberArk identity security, and Sophos security) and Infrastructure (including xFusion servers, Virtuozzo hyperconverged cloud, Vinchin backup and recovery, NetApp storage, StarWind HCI, and Sangfor HCI). ICOS supports partners through commercial services, technical pre/post-sales support, training, events, and marketing support to drive business development.

Differentiator

Problem solved

Functional benefit

Products and services

• Partner Commercial Services (Servizi Commerciali)
• Partner Technical Services (Servizi Tecnici)
• Partner Events and Training (Eventi e Formazione)
• Partner Business Development (Sviluppo Business)
• Professional Services (Servizi Professionali)
• Cybersecurity Solutions Distribution
• IT Infrastructure Solutions Distribution

Quantifiable outcome

• ICOS achieved €104.7 million in combined revenue for FY 2022/23, a 16.5% increase year-over-year.
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

AI capability6 records

Partnerships

17 partnerships are on record, tiered core and secondary.

• AkamaicoreChannel Partner/ Reseller/ Distributor · 17 October 2023Akamai is the world's largest distributed computing platform powering and protecting life online. ICOS signed a distribution agreement in October 2023 to distribute Akamai's security portfolio in Italy. Akamai provides integrated security solutions including Zero Trust architecture, DDoS protection, and bot management. ICOS helps partners protect customers through Zero Trust architecture verification of identities, devices, and services.
• VinchinsecondaryChannel Partner/ Reseller/ Distributor · 29 August 2023Vinchin is an innovative software company focused on data protection solutions including backup and instant recovery and offsite DR for private, public, and hybrid cloud environments. ICOS announced the distribution agreement in August 2023. Vinchin Backup & Recovery supports major virtualization platforms, databases, and physical servers. Solutions are deployed in over 100 countries.
• PointsharpsecondaryChannel Partner/ Reseller/ Distributor · 24 July 2023Pointsharp is a European cybersecurity company specializing in identity management, secure communication, and encrypted file sharing. ICOS signed a distribution agreement in July 2023 to distribute Pointsharp solutions in Italy. Key product includes Cryptshare, a leading solution for secure email communication and protected file sharing using encryption. Pointsharp is headquartered in Stockholm, Sweden, with offices in Finland, Germany, and the Netherlands.
• FileWavesecondaryChannel Partner/ Reseller/ Distributor · 18 May 2023FileWave is a global leader in Unified Endpoint Management (UEM), IT Asset Management (ITAM), and Mobile Device Management (MDM). ICOS signed a distribution agreement for Italy in May 2023. FileWave has over 30 years of leadership in UEM technology and supports macOS, Windows, iOS, Android, and Chrome OS. Previously ICOS's German subsidiary (ex Brainworks) was a FileWave partner.
• AllotcoreChannel Partner/ Reseller/ Distributor · 2 February 2022Allot (NASDAQ, TASE: ALLT) is a leading provider of network intelligence and security solutions for Telco and Enterprise customers. ICOS signed a distribution agreement with Allot in February 2022 to provide Allot's solutions to Italian channel partners and MSPs. Allot's solutions enable real-time network traffic monitoring, classification, optimization, prioritization, and DDoS protection.
• Brainworks (now ICOS Deutschland GmbH)coreStrategic or Co-development Partner · 1 January 2022ICOS acquired German distributor Brainworks in 2022. The integration was completed during FY 2022/23. Brainworks is now fully integrated as ICOS Deutschland GmbH, enabling effective coverage of German-speaking markets (DACH) with the same VAD model.
• XM CybercoreChannel Partner/ Reseller/ Distributor · 5 May 2021XM Cyber is a leader in Attack Path Management and Breach & Attack Simulation (BAS). ICOS distributes XM Cyber solutions in the Italian market. The partnership was announced in May 2021, allowing ICOS to offer XM Cyber's automated attack simulation platform to help organizations protect their most critical assets. ICOS implements the XM Cyber Partner Pathfinder Program in Italy.
• xFusioncoreChannel Partner/ Reseller/ DistributorxFusion is a global leader in server and infrastructure solutions. ICOS distributes xFusion products including FusionServer rack servers, high-density servers, GPU servers, and liquid cooling solutions. xFusion serves customers in 130 countries including 211 Fortune 500 companies. ICOS was awarded Top Distributor 2024 by xFusion. Bundle opportunities exist with Sangfor for hyperconverged infrastructure (HCI) solutions.
• SophoscoreChannel Partner/ Reseller/ DistributorSophos is a leading cybersecurity company providing advanced endpoint and server protection. ICOS was awarded Sophos' Best Performing Distributor of the Year FY21 at the Virtual Partner Conference EMEA, demonstrating strong performance in the Sophos channel.
• NetAppcoreChannel Partner/ Reseller/ DistributorNetApp is a leading provider of cloud data services and enterprise storage solutions. ICOS distributes NetApp products including AFF A-Series, FAS, and HCI solutions through promotional ExpressPack bundles combined with NetApp Cloud Insights Premium subscriptions.
• SangforcoreChannel Partner/ Reseller/ DistributorSangfor is a global leader in cybersecurity and infrastructure solutions. ICOS distributes Sangfor products including XDDR (Extended Detection and Defense Response) security framework, SD-WAN, and HCI solutions. Sangfor and xFusion hyperconverged bundles are available through ICOS at promotional prices.
• ESETcoreChannel Partner/ Reseller/ DistributorESET is a leading provider of multi-level advanced endpoint and server protection, identity management, threat analysis, and security management. ICOS organizes ESET Cyber Security Partner Day events and distributes ESET solutions to Italian channel partners.
• Trustbuilder (Inwebo)secondaryChannel Partner/ Reseller/ DistributorTrustbuilder (formerly Inwebo) provides Multi-Factor Authentication (MFA) solutions for B2B transactions and secure access to enterprise networks. ICOS distributes Trustbuilder solutions, featuring passwordless authentication using dynamic keys and software tokens.
• QualyssecondaryChannel Partner/ Reseller/ DistributorQualys provides cloud-based security and compliance solutions including TruRisk VMDR (Vulnerability Management, Detection and Response), Patch Management, and Multi-Vector EDR. ICOS distributes Qualys solutions including SMB-focused packaging (VMDR TruRisk, VMDR TruRisk FixIT, VMDR TruRisk ProtectIT) targeting small and medium businesses.
• StarWindsecondaryChannel Partner/ Reseller/ DistributorStarWind provides hyperconverged infrastructure (HCI) solutions. ICOS distributes StarWind HyperConverged Appliance (HCA) — a 100% flash-based, full HA solution available in Value, Capacity, and Performance variants, designed for SMBs, branches, and remote offices.
• NetwrixsecondaryChannel Partner/ Reseller/ DistributorNetwrix provides data security and compliance solutions. ICOS distributes Netwrix products including Password Policy Enforcer and Netwrix Password Reset, with promotional offers providing additional free license months on annual subscriptions.
• SeSa S.p.A. (Parent Group)coreStrategic or Co-development PartnerICOS S.p.A. belongs to the SeSa S.p.A. group of companies. SeSa S.p.A. functions as the holding company for the group and has appointed the Data Protection Officer (DPO) for the group. ICOS is part of a business group operating in the IT products and services sector (ATECO categories J62, J63, M70).

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Esprinet: Italian-headquartered B2B technology distributor with similar geographic focus and a multi-vendor IT infrastructure and cybersecurity portfolio; the closest domestic peer to ICOS and a natural comparator for Italian enterprise channel economics.
• Exclusive Networks: Pan-European cybersecurity-focused VAD with a similar specialist channel model and overlapping vendor portfolio (e.g., Fortinet, SentinelOne, Palo Alto); directly comparable on cybersecurity mix and go-to-market.
• Westcon-Comstor: Global VAD focused on security, networking, and unified communications, distributing many of the same vendors as ICOS (Sophos, Akamai, NetApp ecosystem); directly comparable in channel services and EMEA execution.
• ALSO Group: European IT distributor with significant presence in DACH and a comparable mix of cloud, security, and infrastructure products; highly relevant for benchmarking ICOS's DACH execution post-Brainworks integration.

Broad incumbents

• Arrow Electronics (ECS): One of the largest global IT distributors with a substantial enterprise computing and security VAD business; competes head-to-head for vendor agreements and offers pan-European reach ICOS cannot match.
• Ingram Micro: Global IT distribution giant with broad enterprise infrastructure and security portfolios; represents the scale benchmark for IT distribution and a key channel competitor for ICOS's vendor partners.
• Bechtle AG: Germany-headquartered IT systems integrator and distributor with deep DACH coverage and growing cybersecurity portfolio; relevant for DACH expansion benchmarking and as a potential M&A counterweight.
• TD SYNNEX: Global IT distributor formed by the merger of Tech Data and SYNNEX, offering a broad security and infrastructure portfolio across Europe; represents scale pressure and a benchmarking standard for vendor relationships.

Regional players

• Computer Gross Italia: Italian IT value-added distributor serving resellers and system integrators with a multi-vendor enterprise portfolio; direct regional competitor for channel share in Italy.

Others

• SeSa S.p.A. (parent): Holding company and parent of ICOS, listed on the Italian stock exchange and a leading Italian IT distribution/integration group; the public-market proxy for ICOS's value and a channel for understanding parent-level capital allocation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/icos_spa
• YouTubeyoutube.com/user/theicostube
• LinkedInlinkedin.com/company/icos-spa
• Instagraminstagram.com/icosspa
• Facebookfacebook.com/icosdistribuzioneict

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 ICOS Spa