Italian shipbuilder Fincantieri MIL:FCT has reached deals to buy four Italian subsea technology companies for an initial investment of about €600 million ($685.1 million).
Fincantieri shares rose as much as 14% on the news that it will buy majority stakes in Next Geosolutions MIL:NXT, WSense, Graal Tech and Defcomm.
The acquisitions expand Fincantieri's presence in marine survey and geoscience services, marine construction support, unmanned underwater and surface drone technologies and wireless communication systems for the Internet of Underwater Things.
Fincantieri said the deals bring combined technologies and expertise that can serve both military and civilian customers.
On a pro-forma basis, Fincantieri's underwater technology operations are expected to generate €1.1 billion in revenue and €220 million of core profit this year, achieving its 2030 targets for the underwater businesses four years ahead of schedule.
The acquisitions are expected to contribute more than €60 million to group net profit this year and about €130 million by 2030, with earnings per share (EPS) projected to rise about 30% by 2028 and 20% by 2030.
At group level, the acquisitions will drive a 13% increase in 2026 pro-forma core profit and a 40% increase in pro-forma net profit.
The deals are being financed through the proceeds of a €500 million capital increase completed in February and other group resources, with no impact on guidance for 2026 net debt and core earnings.
The deal for Milan-listed NextGeo will give Fincantieri about 57% of the company, paving the way for a mandatory offer for the remaining shares.
($1 = 0.8757 euros)