With torpedo firm buy, Fincantieri eyes $100bn undersea-defense market

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Fincantieri, the Italian state shipyard, has completed the acquisition of Italian torpedo firm WASS from Leonardo for a potential total of €415 million ($428 million). The acquisition strengthens Fincantieri’s expertise in underwater acoustic technologies and advanced weapons systems, aligning with its strategy to expand its undersea business. The deal includes a fixed payment of €287 million, with the total contingent on WASS’s 2024 performance. Fincantieri predicts global undersea defense spending to reach €94 billion between 2024 and 2030, highlighting significant market potential. This acquisition positions Fincantieri as a key player in the growing undersea defence sector.

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