Fincantieri Acquires Leonardo's Armaments Business – Marine Technology News

January 14, 2025
Source: Fincantieri
Fincantieri has finalized the acquisition of Leonardo S.p.A.'s Underwater Armaments & Systems business line through the purchase of the entire share capital of the newly established company WASS Submarine Systems.
The transaction reinforces Fincantieri Group's strategy focused on growth in the naval defence business and the development of the underwater domain.
With this acquisition Fincantieri integrates unique expertise in underwater acoustic technologies and advanced weapons systems that open new prospects for growth in the military and civilian sectors, with a focus on critical infrastructure security.
As foreseen by the preliminary agreement signed with Leonardo on May 9, 2024, Fincantieri paid 287 million euros ($296 million), representing the fixed component of the acquisition price. The variable component, linked to the growth targets of the UAS business line in 2024, will be determined following the approval of UAS’s final results for the 2024 fiscal year. The total value could be up to 415 million euros ($428 million).
Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, commented: "The acquisition of WASS Submarine Systems represents a decisive step for Fincantieri in strengthening its technological leadership in the underwater domain, a crucial sector for the future of maritime security and technology. By integrating advanced expertise in acoustic and underwater weaponry systems, we have expanded our ability to develop innovative solutions for naval defence while ensuring the protection of critical underwater infrastructure, such as submarine cables and offshore energy facilities. This confirms our goal to lead the evolution of advanced ship technologies, responding to global challenges with entrepreneurship and strategic vision."

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