Xtera Topco Ltd., a company based in the United Kingdom and in the United States active in the telecommunications sector submarine, will be acquired by a joint venture owned by 80% by the Italian Prysmian and 20% by the compatriot Fincantieri. Xtera, which specializes in projects regional and long-distance submarines thanks to the owner of repeaters, will be sold by an affiliate of H.I.G. Capital, a global alternative investment company with $72 billion in capital under management.

The parties have disclosed that the transaction involves a enterprise value of $65 million and that the acquisition, subject to regulatory approvals, it is expected to be completed in the first quarter of 2026.

Italy's Prysmian and Fincantieri also announced that they were have started a partnership that provides for the development of services installation and safety, with the aim of offering A "one-stop shop" model for complete solutions submarine telecommunications. Fincantieri highlighted that, through the partnership and joint venture, it further strengthens its role as a leader in subsea system integration state-of-the-art.

"Thanks to the acquisition of Xtera - underlined Raul Gil, EVP Transmission at Prysmian - we have taken a step forward significant in the subsea telecommunications sector, which is experiencing accelerated growth driven by AI. For complete our offer as a market leader of submarine power cables, we will now be even more in guaranteeing regional and long-term telecom connections distance on a global scale. Security is an element for our customers and, also thanks to this partnership with Fincantieri, we will be able to offer the market solutions unique and technologically advanced, according to a one-stop model shop».

"This operation - commented Pierroberto Folgiero, CEO and managing director of Fincantieri - represents a step forward significant in the implementation of our industrial vision, which identifies the subsea sector as one of the strategic pillars of the group, today and in the future. Covering every area of this sector, also through partnerships with leading companies such as Prysmian, we strengthen our ability to anticipate global challenges and drive innovation along the entire supply chain value. In a world where subsea infrastructure is always most fundamental, Fincantieri aims to be a leader and a point of reference in the development of integrated solutions and sustainable ones".