Prysmian and Fincantieri Joint Venture to Acquire Xtera for Submarine Telecom Solutions
Prysmian and Fincantieri have entered a joint venture to acquire Xtera Topco Limited, enhancing Prysmian's position in the submarine telecommunications sector. With Prysmian holding an 80% stake, the partnership aims to create a comprehensive service model by integrating cable monitoring, installation expertise, and safety solutions. This acquisition targets the growing demand for submarine telecom connections driven by data centers and telecommunications operators.
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Prysmian, holding an 80% stake, and Fincantieri, with a 20% stake, have signed an agreement to acquire Xtera Topco Limited, a leader in submarine telecommunications systems. This acquisition positions Prysmian as a global player in submarine telecommunications, enhancing their established leadership in submarine energy solutions.
The partnership also focuses on developing innovative installation and safety services, creating a 'one-stop shop' model for comprehensive submarine telecom solutions. The submarine telecommunications connections represent strategic assets with strong long-term growth prospects, driven by data centers and hyperscalers, as well as incumbent telecommunications operators. The integration of Prysmian's cable monitoring and installation expertise with Fincantieri's safety solutions will fortify their roles in the submarine systems integration market.
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