Fincantieri has finalised the acquisition of Leonardo S.p.A.’s Underwater Armaments & Systems (UAS) division by purchasing the entire share capital of WASS Submarine Systems S.r.l. (WASS), a company established to handle the UAS business.
This acquisition aligns with Fincantieri Group’s strategy to expand its presence in the naval defence sector and enhance its capabilities in the underwater domain, reinforcing its position as a key technology integrator in the dual-use sector.
As agreed in a preliminary contract signed on May 9, 2024, Fincantieri has made an initial payment of 287 million euros, which represents the fixed part of the acquisition price. The variable component will be determined based on the performance of the UAS business in 2024, following the approval of its financial results. The total enterprise value for UAS, including the fixed amount already paid, could rise to 415 million euros, subject to customary price adjustments.
With this acquisition, Fincantieri gains significant expertise in underwater acoustic technologies and advanced weapons systems, further consolidating its position in the underwater domain. These capabilities present new growth opportunities in both military and civilian sectors, focusing on securing critical infrastructure and applying advanced industrial solutions.
“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,” said Pierroberto Folgiero, Chief Executive Officer of Fincantieri.
“This confirms our goal to lead the evolution of advanced ship technologies, responding to global challenges with entrepreneurship and strategic vision,” he added.
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