A long and difficult process has led to the present face of Olivetti Group, the Italian corporation at the head of a number of companies supplying office equipment and electronic accessories, information technology systems and services and, more recently, telecommunications. So major and many are the changes, the largest coming in the last ten years, that some confusion exists concerning the modern-day reality of the Ivrea company. This is partly because the group’s recent entry into the world of telecommunications, and hence its conversion into an industrial holding, “obscured” the traditional office equipment production. The recent Smau registered a massive Olivetti presence on six stands with numerous initiatives and new products for the home office area. This provided an opportunity to clarify what the company and production changes have meant and what remains of the production - and the spirit - of the memorable I.C.O. belonging to Ingegner Olivetti that made such an impression on European industrial history, setting itself forward as the model of the “intelligent” company.