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Business/Financial

Fincantieri To Acquire Leonardo’s Torpedo, Underwater Acoustic Business

By Cal Biesecker

Thursday, May 9th, 2024

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Italian shipbuilding company Fincantieri on Thursday said it has agreed to acquire the torpedo production and underwater acoustic technologies business of Italian defense contractor Leonardo for $323 million up front and up to $124 million more based on certain growth assumptions in the underwater armament system business. The transaction is expected to close in early 2025. Fincantieri said the pending deal accelerates its role as a technology integrator in the underwater and naval sector, and fits with its growth strategy…

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