Prysmian: completes acquisition of Xtera, accelerates expansion in the submarine telecoms sector
(Il Sole 24 Ore Radiocor) - Prysmian has completed the acquisition of Xtera, a company based in the UK and the US specialising in turnkey subsea telecommunications systems, through a joint venture in which Prysmian holds an 80 per cent stake and Fincantieri a 20 per cent stake. “The closing,” the group explains in a press release - “represents a significant step in Prysmian’s expansion into subsea telecommunications, combining Xtera’s proprietary repeater technology and its expertise in regional and long-distance subsea projects with Prysmian’s leadership in subsea cable technology, manufacturing and installation. The transaction, announced in December 2025, values Xtera at $65 million.” “Submarine telecommunications,” explains Raul Gil, EVP Transmission at Prysmian, “represent a major growth opportunity for Prysmian. As global demand accelerates, security and resilience will become increasingly critical differentiating factors. Thanks to Xtera’s technology, our global leadership in submarine cables and the expansion of production capacity at Nordenham, we are ready to secure new orders and increase our market share. We will continue to invest to support this ambition, whilst also considering investment in a new cable-laying vessel dedicated to subsea telecommunications.”
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