May 2026
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Largest IT Consulting Public Companies in Italy
Benchmark revenue and EBITDA valuation multiples for public comps like
Reply, Sesa, Tinexta, TXT Group and Digital Value.
 | Reply SpA specialises in consulting, digital services, and the integration of processes, applications, and devices. Reply serves clients in the telecommunication and media, banking, insurance, financial, industry and services, energy and utilities, and public administration industries. The company provides its services mainly through platforms such as X-Rais Reply, Discovery Reply, Brick Reply, TamTamy, and SideUp Reply. Reply researches, selects, and markets solutions through channels such as data analysis, digital communication, e-commerce, mobile, and social media. Its business segments are defined based on geographical areas of operation and include Region 1 (including Italy, USA, Brazil, Poland, Romania, and Nanjing), which derives key revenue, Region 2, Region 3, and IoT Incubator. | $114 | -34% | $4B | $4B | 1.3x | 6.8x | ||
| Sesa SpA and its subsidiaries are in the business of the distribution of value-added IT solutions and products. The firm functions through the Business Services Sector, Value Added Distribution, Corporate Sector, and the Software and System Integration segment. The activities of these segments include the distribution of software and hardware technologies, the supply of IT services and solutions, administrative and financial services, organization, planning, and control, management of information technologies, human resources, general, corporate, and legal affairs, activities related to logistics services and cloud computing. | $104 | +10% | $2B | $1B | 0.4x | 5.3x | ||
| Tinexta is an operator of an industrial group intended for the digital transformation and growth of companies. The company offers advanced services for digital identity and certification, cybersecurity, digital marketing, and access to financing, enabling companies, professionals, and institutions to get access to innovation and internationalization. Its segments include: Digital Trust, Cybersecurity, and Business Innovation. The company derives maximum revenue from Digital Trust segment. | $18 | +31% | $819M | $1B | 2.0x | 8.9x | ||
| TXT e-solutions SpA is an Italy-based company. The company provides three operating segments: Smart Solutions, Software Engineering, and Digital Advisory. The smart solution segment includes the activities of TXT Risk Solutions, Assiopay, and Working Capital Solution. D.M. Management and Consulting, etc. Software Engineering includes e-tech Srl, Ennova Group, TXT e-swiss, and Fascode S.P.A. Digital Advisory includes companies such as HSPI, PGMD Consulting, Tlogos, etc. The majority of revenue is from Software Engineering. Geographically, it has a presence in Italy, Germany, the United Kingdom, France, Switzerland, and the USA. | $43 | +5% | $542M | $660M | 1.4x | 9.3x | ||
| Digital Value SpA is one of the main IT solutions and systems integrator of Italian market. Its service range from activities of design, development and sale of IT solutions and services for the digitalisation of large account clients operating in various industrial sectors such as telecommunications, transport, utilities, finance, public administration and others. | $34 | +2% | $346M | $199M | 0.3x | 2.7x | ||
| Sys-Dat SpA is an IT solution company in Italy. The Group offers IT solutions for its clients such as fashion & luxury, manufacturing, ceramics, food & beverage, healthcare, logistics, publishing, banking, and professional services (law firms), retail, and distribution. Geographically, the company generates the majority of its revenue from Italy. The solutions provided by the company consist of Business Intelligence, Servizi Cloud, CRM, Retail & Sales Digital Suite, Controllo energetico, Digital Marketing, EDI, Gestione HR, and GDPR & Privacy. | $6 | -18% | $183M | $136M | 1.3x | 6.8x | ||
| Almawave SpA is an Italian player in the Data and Artificial Intelligence sector. It brings breed technologies and exhaustive Big data-oriented services to support the digital enhancement of enterprises and public administrations. The company’s platform leverages cutting-edge proprietary technologies and applied services for Machine Learning, Deep Learning, and Natural Language Processing, through versatile technological, multifunctional, and multi-sectoral solutions. | $5 | -- | $145M | $147M | — | — | ||
| Circle SpA is engaged in providing consulting services, technological solutions, and digital marketing services to companies operating predominantly in the logistics and transportation sectors. It provides strategic consulting services in the fields of port management, logistics, and transport, and also develops software solutions to optimize flow management and improve logistics processes. The company's service offerings in the digital marketing sector include; services for the analysis, identification, and use of multi-channel communication tools for the implementation of digital marketing strategies. | $17 | +119% | $81M | $78M | 6.2x | 23.4x | ||
| Matica Fintec SpA designs, develops and sells technological solutions for Banking and Government Institutions. The company specializes in the design, development, and marketing of software and integrated security equipment for credit cards, identity cards, passports, driving licenses, access control badges, etc. Geographically, the company generates maximum revenue from its business in Europe and the rest from South America, Asia, the United States, Africa, United Arab Emirates, India, the Middle East, Italy, and other regions. | $2 | +12% | $76M | $123M | 2.5x | 29.4x | ||
| Creactives Group SpA through its subsidiaries, develops AI-powered semantic technologies for data management in the Supply Chain and Procurement industry. The company through collaboration with its partners, creates technological projects providing its customers with support in supply chain data management activities based on; the collaborative AI-semantic technology platform, Vanessa, to create the digital twin of (cleaned and categorized) customer supply chain data, and then developing a system of applications using the data collected, and offering it to the customers. | $3 | +16% | $51M | $52M | 6.4x | 223.4x | ||
| Com Tel SpA is engaged in ICT systems integration in Italy. The company connects people, technologies, and information in a single, dynamic, and scalable infrastructure. It specializes in making companies connected, secure and flexible, ready to face the technological changes of the future. The company's approach is not limited to the supply of software or hardware: It creates integrated solutions and services that help to emerge in an increasingly interconnected and competitive market. | $2 | -12% | $37M | $38M | 0.4x | 4.4x | ||
| Siav SpA is a software and IT service company specializing in dematerialization, document management, and digital processes. It offers software platforms such as Archiflow Nova, Siav Connect, and Siav Frame for information and process management; Vertical software and solutions that deal with specific topics such as Silloge, Checker, MyCreditService, etc., and outsourcing services such as dematerialization and replacement storage of documents, managed through a proprietary solution (Virgilio), and B2B electronic invoicing. The company's operating segments are based on the market it operates in and include the Private Market, Central Public Administration Market (CPA), Local Public Administration Market (PAL), and Channel Market. | $3 | +7% | $26M | $45M | 1.1x | 4.1x | ||
| Reti SpA operates in the IT consulting field, specializing in System Integration services. It supports mid and large corporates in digital transformation by offering IT solutions, business consulting, and managed service provider services. The various services provided by the company include; the integration of AI into existing business processes, designing and implementing solutions for business data analysis, executing cloud migration and development projects, management and maintenance of IT infrastructures and applications, providing consultancy in project management and business analyst fields, and others. Geographically, the company generates all of its revenue from its business in Italy. | $2 | -6% | $21M | $25M | 0.6x | 6.8x | ||
| HUI SpA is an Italian company engaged in technology and software solutions for start-up founders. The services of the company include multiple apps with ERP (Enterprise Resource Planning) functionalities. The company allows to plan, manage, and monitor the key functions and business processes of Start-Up companies. The company also provides a digital Software as a Service (SaaS) platform. | $81 | +5% | $20M | $20M | — | — | ||
| Vantea Smart SpA is an Information Technology company that operates mainly in the Cybersecurity sector. It also offers consultancy in the field of System Integration and Software Development and Project development and Product development activities. | $1 | -27% | $13M | $18M | 1.7x | 7.8x | ||
| It Way is an Italy-based company that operates in the information technology (IT) industry. The company's segment includes VAD and Others. It generates maximum revenue from the VAD segment. It has three reference sectors namely Valued Added Distribution and Value Added Reseller and Value Added Services. The company focuses on distribution and integration of products and services for logical security of IT systems, professional services and production of solutions and software technologies for e-business and professional services as system integrators and centralization of applications. | $1 | -24% | $13M | $15M | 0.2x | 6.9x | ||
| Impianti SpA operates as an infrastructural System Integrator. It provides information, communication technology, audio, and video system integrating services. Its portfolio of solutions and services is in the fields of ICT/AV, UCC, SD-Wan & Mobile Data Solutions, Mobile & Rugged Devices, Cyber Security, IoT, Data Centers, and Cabling Systems, as well as in the ecosystem areas in relation to the three video communication brands, such as Microsoft Teams, Zoom, and Google Meet. | $1 | -24% | $7M | $8M | 0.8x | (27.0x) | ||
| Beewize SpA is active in the digital transformation business sector, integrating a full-service offer of digital transformation services, data-driven marketing, communication, and IoT platforms with infrastructure design for smart cities and integrated telecommunications networks. | $0 | -19% | $5M | $7M | 1.3x | (2.1x) | ||
| Cloudia Research SpA operates in the IT sector, providing services aimed at the digital transformation of business activity. It is engaged in digital transformation process, designing and providing innovative and customized solutions that allows to implement automated and interconnected IT management systems, which replace previous systems, improving operational efficiency and competitiveness. | $1 | -57% | $5M | $6M | 0.8x | 5.0x | ||
| Median | $3 | -2% | $51M | $52M | 1.3x | 6.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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