Leonardo has completed the acquisition of Iveco Group’s Defence Business (IDV and ASTRA brands) for a price of €1.6 billion in line with the agreed Enterprise Value disclosed of €1.7 billion minus agreed contractual adjustments. The transaction was financed through available cash resources.
This strategic acquisition marks a significant step in Leonardo’s plan to strengthen its role as a leading, fully integrated Original Equipment Manufacturer (OEM) in the land defence domain. The acquisition further enhances the Group’s comprehensive portfolio of solutions for defence and security, covering both tracked and wheeled platforms.
“The acquisition strengthens our position as a leading player in the land defence sector and enhances our competitiveness in a market offering significant long-term growth potential. Through this transaction, Leonardo acquires the industrial capabilities required to deliver fully integrated platforms, spanning both mobility and payload, and takes a further step forward in inorganic growth strategy, one of the pillars underpinning the execution of our Industrial Plan,” said Roberto Cingolani, CEO and General Manager of Leonardo.
The acquisition also boosts joint commercial positioning, leveraging the complementary nature of the two companies’ sales networks and the ability to offer integrated solutions in high-potential markets.
Leonardo’s ability to offer a full-spectrum electronics suites, ranging from command-and-control systems to electro-optics and next-generation turrets, combined with IDV’s vehicle platforms, ensures to deliver high-performance, and end-to-end operational solutions. The highly specialised expertise of the two companies in their respective verticals, combined with robust logistics and manufacturing capabilities, drives operational synergies and accelerates joint technological development, while also creating new opportunities to further enhance technological capabilities and strengthen employees’ professional skills.
Leonardo acquires GEM Elettronica
Leonardo also announced the full acquisition of GEM Elettronica, increasing its stake from 65% to 100%. The transaction enables Leonardo to strengthen its full suite of radar and systems for naval and coastal applications thanks to the full integration of the product portfolio.
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