Prysmian and Fincantieri complete acquisition of Xtera

Prysmian and Fincantieri have finalized the acquisition of Xtera Topco Limited, a specialist in turnkey submarine telecommunications systems based in the United Kingdom and the United States. The transaction was executed through a joint venture in which Prysmian holds an 80% stake and Fincantieri holds 20%.

The deal, originally announced in December 2025, carries an enterprise value of $65 million. The acquisition aims to meet rising global demand for submarine telecommunications infrastructure driven by artificial intelligence, cloud computing, and the expansion of data centers.

By integrating Xtera’s optical engineering and repeater technology with Prysmian’s manufacturing and installation leadership, the partnership seeks to enhance the resilience and security of critical underwater digital infrastructure. Fincantieri will contribute its expertise in complex system integration and underwater technological solutions.