Techedge becomes Avvale and aims for 500 million revenues by 2025

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There is an Olivettian soul in Domenico Restuccia, an engineer of Sicilian origins, but with a marked Turinese accent (he studied and graduated in Turin), who lives between Chicago and Milan, where the company he founded has its headquarters in 2004, Techedge, a digital business transformation company that in less than 20 years had achieved a turnover of 300 million euros (with a compound growth rate of more than 20%) and exceeded 3,000 employees in 20 offices in Europe, North and South America and Saudi Arabia.

Another 800 (of which about 60% in Italy) will be added in 2023, the year in which the group changed its name to Avvale and expects to grow further until it reaches 330 million euros organically. To which will be added the possible new acquisitions (at least one seems certain), which will follow the three made by Techedge between the end of 2021 and the beginning of 2022.

«Between organic and inorganic growth, our goal is to reach 500 million euros in revenues by 2025», explains Restuccia, who says of the engineer that he has «the rationality and discipline that allows me not to give up», but which from classical culture he learned “to have a long-term vision”.

Indeed, he saw ahead when in 2004, after the bursting of the IT bubble, he sensed that the digital revolution would continue anyway and he decided to invest in it, founding his own company after a long experience in Olivetti and Realtech (a German software). An Olivettian vision, in fact, which sees technology as an instrument that must be governed, not immediately. «Technology in itself is neutral, the difference is in the way we want to use it – explains Restuccia -. At a time like this, where there is a lot of talk about artificial intelligence and its consequences, it is essential for us to have the ability to make use of technologies in a positive way, using ingenuity”.

Hence the new name, Avvale, from the Latin root of “valeo” (to have strength, to be capable of), which is not just a “rebranding” action, but responds to the need to give a strong common identity to a company organization which has grown enormously in recent years and has become complex, articulated and global.