► Fincantieri strengthens its position in Subsea telecommunications with the completion of the Xtera acquisition

Fincantieri announces the completion of the acquisition of Xtera Topco Limited (“Xtera”), a UK – and US -based company and a leader in turnkey subsea telecommunications systems, through the joint venture between Prysmian (80% ) and Fincantieri (20% ).

The transaction, announced in December 2025, marks a further step in the Group’s strategic development in the underwater sector and subsea infrastructure. Against a backdrop of growing demand for global connectivity, the expansion of data centres, and the accelerating pace of digitalisation and artificial intelligence, subsea telecommunications networks are playing an increasingly vital role in ensuring the resilience of critical infrastructure and the continuity of digital flows.

The acquisition is part of Fincantieri’s strategy to strengthen its position as a global underwater champion, building on recent acquisitions and the development of an integrated ecosystem spanning the entire underwater value chain .

The addition of Xtera further reinforces the industrial partnership between Fincantieri and Prysmian, combining Xtera’s expertise in optical engineering ,Prysmian’s leadership in the manufacturing and installation of submarine cable systems and Fincantieri’s experience in complex systems integration and the development of advanced technological solutions for the underwater domain.

The transaction also contributes to expanding the range of services developed through the Fincantieri -Prysmian partnership, particularly in the development, monitoring and protection of subsea infrastructure. Through its expertise in system s integration and high -value technological solutions, Fincantieri will contribute to the development of advanced capabilities aimed at enhancing the resilience and security of the underwater domain.

Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, stated: “With the completion of the Xtera acquisition, we add another building block to our ambition of creating a global underwater champion, further strengthening our ability to integrate technologies, expertise and services across the entire value chain. Subsea infrastructures are becoming increasingly strategic for security, connectivity and technological sovereignty, and require industrial solutions capable not only of delivering them, but also of monitoring, protecting and ensuring their resilience. Our partn ership with Prysmian, a global leader and a flagship of Italian industry, enables us to combine complementary capabilities and further reinforce our role as an integrator of complex systems, while contributing to the development of an increasingly competitive European technology value chain in a m arket with significant growth potential.”