The state-controlled Italian shipbuilding group Fincantieri is expanding its capabilities in the ‘underwater’ sector through the acquisition of no fewer than four companies.
According to an official statement, agreements have been reached regarding the acquisition of majority stakes in Next Geosolutions, WSense, Graal Tech and Defcomm – all of which are based in Italy. The aim is to expand the company’s expertise in the areas of “specialised services for marine surveying, geosciences and support for offshore construction projects, proprietary technologies for unmanned underwater and surface drones, and wireless communication systems for the ‘Internet of Underwater Things’ (IoUT).”
The aim is to establish “the first vertically integrated provider in the underwater sector”, bringing together eight centres of expertise. “These centres are capable of managing synergistically integrated end-to-end solutions across the entire value chain: from hardware, through software and telecommunications, to the provision of underwater platforms and services. In doing so, opportunities for cross-selling, joint product development, and economies of scale and scope will be utilised, whilst at the same time accelerating the underwater strategy outlined in the 2026–2030 business plan,” according to the Fincantieri statement.
The transaction follows the acquisition and integration of WASS last year and that of Remazel in 2024. The acquisitions are being financed by an “accelerated capital increase” (accelerated bookbuilding) amounting to €500 million, which was completed last February.
Under a single platform, around 1,500 specialists from Italy, the UK, the Netherlands, Norway and the UAE will be brought together, and key technologies and specific expertise for conventional and unconventional underwater activities will be integrated. The “Underwater” segment generated revenue of €667 million in 2025, representing 6.7 per cent of the Group’s total revenue. On a pro forma basis, the segment is expected to generate revenue of €1.1 billion and EBITDA of €220 million in 2026.
Next Geosolutions, listed on the Euronext Growth Milan segment, is a provider of services in the fields of marine surveying and geosciences, as well as support services for offshore construction projects. WSense, Graal Tech and Defcomm are Italian high-tech scale-ups specialising in underwater communication and the ‘Internet of Underwater Things’ (IoUT), autonomous underwater vehicles (AUVs) and autonomous surface vehicles (ASVs) respectively.
The “distinctive dual-use nature” of this transaction is highlighted as a “key feature”: “The integrated technologies and expertise enable a synergistic response to the requirements of both the defence and civil markets.”
Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, commented: “The acquisitions announced today mark a historic turning point for Fincantieri and create a global leader in underwater technology – made possible by the full integration of technologies, capabilities and operational expertise across the entire value chain. Furthermore, these acquisitions enable us to accelerate the implementation of our business plan: we are significantly increasing our profitability whilst expanding our presence in a rapidly growing market where the dual-use aspect is expected to become increasingly important.”
