Italian shipbuilder Fincantieri is making a significant move into the underwater technology sector, announcing initial deals worth €600 million to acquire controlling stakes in four companies. These firms specialize in marine surveys, autonomous underwater and surface vehicles, and subsea communications.
By acquiring Next Geosolutions, WSense, Graal Tech, and Defcomm, Fincantieri aims to enhance its operations beyond traditional shipbuilding. The company plans to create what it describes as the first fully integrated underwater operator, serving commercial, offshore energy, and defense markets.
This initiative builds on earlier acquisitions, including underwater defense specialist WASS in 2025 and engineering company Remazel in 2024. Together, these businesses will establish an underwater technology hub that unites eight companies from Italy, the UK, the Netherlands, Norway, and the UAE.
The company's strategy is in response to the growing demand for technologies that safeguard crucial subsea infrastructure, such as pipelines, offshore energy facilities, and the global network of communications cables that carry most of the world’s internet traffic.
“These acquisitions represent a historic change for Fincantieri, creating a global leader in the underwater sector,” said Chief Executive Pierroberto Folgiero. “They enable us to accelerate our Business Plan, strengthen profitability, and expand our presence in a rapidly growing market where dual-use capabilities are becoming increasingly essential.”
The largest acquisition is Next Geosolutions, a marine survey and offshore services firm listed in Milan, which generated roughly €300 million in revenue in 2025. Fincantieri has agreed to buy a controlling stake of 52.6% at €16.25 per share, placing the company's total value at around €780 million. The company also intends to make a mandatory tender offer for the remaining shares once the transaction is complete.
In addition to Next Geosolutions, Fincantieri is acquiring majority stakes in underwater communications specialist WSense, autonomous vessel developer Defcomm, and underwater robotics company Graal Tech.
Fincantieri stated that this collection of companies will allow it to provide integrated services throughout the underwater value chain, covering seabed surveys, offshore construction support, autonomous vehicles, communications networks, and monitoring of subsea infrastructure.
The company expects these acquisitions to more than double its underwater revenue, from €667 million in 2025 to over €1.1 billion on a pro-forma basis in 2026. EBITDA is anticipated to rise to around €220 million. This growth would meet targets set for 2030, four years ahead of schedule.
By 2026, the underwater segment is projected to contribute over €60 million to the group's net profit, with revenues expected to hit €1.8 billion by 2030. Fincantieri also mentioned that these deals are likely to boost group EBITDA by 13% and net profit by 40% in 2026 compared to the current business plan's goals.
The transactions will mainly be financed through proceeds from Fincantieri’s €500 million capital raise completed earlier this year, along with existing company funds. The company assured that these deals will not impact its 2026 leverage guidance.
This expansion comes as governments and energy companies increase investment in protecting underwater infrastructure, following several incidents involving pipelines and communications cables in recent years. Fincantieri anticipates strong long-term demand in defense, offshore energy, marine infrastructure, and environmental monitoring, especially in the Mediterranean, where critical energy and communication networks intersect.