Fincantieri announced today the closing of the acquisition of Leonardo’s “Underwater Armaments & Systems” (“UAS”) business line through the purchase of the entire share capital of the newly established company WASS Submarine Systems S.r.l. (“WASS”), into which the UAS business line was previously transferred.
Naval News Staff 14 Jan 2025
Fincantieri press release
The transaction represents a fundamental element in the Fincantieri Group’s strategy, focused on further growth in the naval defense business and on the development of the underwater domain, strengthening its position as a reference technology integrator in the dual-use sector.
Based on the preliminary agreement signed with Leonardo on May 9, 2024 and in line with the terms communicated on the same date, the acquisition provides for the payment today of 287 million euros, equal to the fixed component of the acquisition price. The variable component linked to the growth targets of the UAS business line in 2024, for a total overall Enterprise Value of up to 415 million euros, subject to the usual price adjustment mechanisms, will be determined following the approval of the final UAS results for the 2024 financial year.
Thanks to this acquisition, Fincantieri integrates unique skills in the field of underwater acoustic technologies and advanced weapon systems, consolidating its leadership in the underwater sector.
These innovative capabilities open up new growth prospects in the military and civil spheres, with particular attention to the security of critical infrastructure and the adoption of cutting-edge industrial applications and solutions.
Pierroberto Folgiero, CEO and General Manager of Fincantieri, commented: “The acquisition of WASS Submarine Systems represents a decisive step for Fincantieri in strengthening technological leadership in the underwater domain, a crucial sector for the future of maritime security and technology. By integrating advanced skills in underwater acoustic and weapon systems, we are expanding our ability to develop innovative solutions for naval defense, while ensuring the protection of critical underwater infrastructure, such as submarine cables and offshore energy installations. We therefore confirm our ambition to lead the evolution of advanced naval technologies, responding to global challenges with entrepreneurship and strategic vision.”
For further information on the UAS business line, the rationale and the main terms and conditions of the transaction, please refer to our article published in May 2024.
Fincantieri Completes the Acquisition of Lenardo’s Underwater Business WASS – Naval News NY Times News Today.
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