January 22, 2025
Fincantieri recently completed the acquisition of Leonardo SpA’s Underwater Weapons and Systems (UAS) business unit. The acquisition was carried out by acquiring all the shares of WASS Submarine Systems Srl, a newly created company to which the UAS business unit was previously transferred.
Fincantieri’s press release said the deal is part of Fincantieri Group’s strategy to expand its naval defense business and capabilities in the underwater domain. The acquisition positions the company as a leading technology integrator in the dual-use space, the statement said.
As stated in the preliminary agreement with Leonardo dated May 9, 2024, Fincantieri paid a fixed portion of the purchase price of $300 million. Variables related to UAS’s 2024 growth targets will be determined following approval of the business unit’s final fiscal year results. The total enterprise value, including the fixed component, could reach up to $432 million due to the price adjustment mechanism.
The acquisition will provide Fincantieri with expertise in underwater acoustics technology and advanced weapons systems, the company said. Fincantieri said these capabilities are expected to expand growth opportunities in military and civilian markets, including critical infrastructure security and industrial applications.
