Listen to the audio version of the article
Alliance in submarine telecommunications. A joint venture led by Prysmian with Fincantieri has signed an agreement to acquire Xtera, a company based in the United Kingdom and the United States, a leader in turnkey submarine telecommunications systems. The acquisition of
The strategy
Prysmian and Fincantieri have also launched a partnership that involves the development of innovative installation and security services, with the aim of offering a “one-stop shop” model for complete submarine telecommunications solutions. Thanks to the partnership and joint venture, Fincantieri’s role as a leader in the integration of cutting-edge submarine systems is further strengthened. «This operation – said Pierroberto Folgiero, CEO of Fincantieri – represents a significant step in the implementation of our industrial vision, which identifies the submarine sector as one of the strategic pillars of the group, today and in the future». While «thanks to the acquisition of
The acquired company
Headquartered in London, Xtera is one of five companies in the world capable of building underwater telecommunications networks on a global scale. The transaction implies an enterprise value of $65 million. The acquisition of Xtera remains subject to regulatory approvals. The completion of the transaction is expected to take place in the first quarter of 2026. Prysmian and Fincantieri are also evaluating the extension of the partnership to the submarine energy cables sector.
