Agreements reached for the acquisitions of majority stakes in Next Geosolutions, WSense, Graal Tech and Defcomm
Fincantieri announces the agreement for the acquisition of Next Geosolutions, WSense, Graal Tech and Defcomm. These four strategic transactions in the Underwater segment significantly enhance the Group’s positioning in a domain that is becoming increasingly central to security, energy and the development of critical infrastructure.
Next Geosolutions, listed on the Euronext Growth Milan segment, is among the leading international players in marine survey and geoscience services, as well as in offshore construction support services.
WSense, Graal Tech and Defcomm are Italian high‑tech scale-ups specializing, respectively, in underwater communications and the Internet of Underwater Things, autonomous underwater vehicles and autonomous surface vehicles.
The four companies will be integrated into Fincantieri’s Underwater technological hub, which will coordinate product and commercial synergies, also thanks to the development of solutions for the unconventional Underwater domain. The hub will evolve into an international underwater operator, comprising 8 market-leading companies, fully vertically integrated, working synergistically to enable significant cross-fertilization across the Group.
The structure of the four transactions guarantees managers/shareholders continuity through the reinvestment of significant stakes in the respective companies, ensuring industrial continuousness and the enhancement of distinctive capabilities, critical to the execution of the growth plans defined with each company.
The initiative marks a significant step forward in the Group’s positioning across the Underwater value chain, expanding its offerings to the marine services business and thus evolving its role from a provider of technology solutions and platforms to the first-of-its-kind industrial operator capable of integrating competences, systems and services along the entire value chain of the underwater segment.
The Underwater segment generated revenues of euro 667 million in 2025, accounting for 6.7% of total Group’s revenues, and is expected to grow at a significant pace. On a 2026 pro-forma basis, revenues are expected to exceed euro 1.1 billion and EBITDA is expected to reach approximately euro 220 million, also supported by the acquisitions, achieving four years ahead of schedule the Underwater revenue and EBITDA targets set for 2030 in the 2026–2030 Business Plan. The acquisitions are expected to contribute to the group’s 2026 pro-forma net profit for more than euro 60 million. Revenues are expected to reach euro 1.4 billion by 2028 and euro 1.8 billion by 2030. The Underwater EBITDA margin, pro-forma for the acquisitions, is expected to increase to 19.2% in 2026, reach 21% in 2028 and rise further to 23% in 2030. By 2030 the contribution of the acquisitions to the group’s net profit is projected at approximately euro 130 million.
The acquisitions significantly enhance Fincantieri’s role as an international champion, with a material impact on EBITDA and net profit. The transaction provides for a strong acceleration in the Group’s growth profile on top of its traditional business, driven by high value‑added, service‑based revenues, with EBITDA and net profit expected to increase by 13% and 40%, respectively, versus the 2026 targets set out in the 2026–2030 Business Plan.
A distinctive feature of this transaction is its marked dual-use nature. The integrated technologies and capabilities enable a synergistic response to the needs of both defense and commercial markets, in line with the sector evolution towards increasingly integrated and interconnected models, spanning from the protection of critical subsea infrastructure to maritime security and offshore services.
Within this framework, Fincantieri is strengthening an industrial model that combines technological development with operational capabilities, evolving into an operator increasingly focused on services and integrated end-to-end solutions.
Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, commented: “The acquisitions announced today mark a historic transformation for Fincantieri, that creates an international champion in the Underwater domain, enabled by full integration across the value chain of technologies, capabilities and operational expertise. These acquisitions also allow us to accelerate the execution of our Business Plan, significantly strengthening profitability while expanding our presence in a fast-growing market where the dual-use component is expected to become increasingly important. We are also securing the industrial continuity of the acquired companies by retaining their existing management teams, as we believe that expertise and execution are essential drivers of the Group’s growth.”
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