Leonardo has announced the signing of an agreement to acquire Iveco Defence, a division of the Iveco Group, in a deal valued at €1.7 billion. The transaction will be fully funded through Leonardo’s existing cash resources.
This strategic acquisition marks a pivotal move in Leonardo’s ongoing Industrial Plan and strengthens its role as a leading Original Equipment Manufacturer (OEM) in the European land defence sector. Iveco Defence brings to the table a comprehensive range of tracked and wheeled vehicle platforms, enhancing Leonardo’s overall defence and security portfolio.
“The acquisition of Iveco Defence represents a key milestone in the execution of our inorganic growth strategy and supports the full implementation of our Industrial Plan. This transaction reinforces Leonardo’s position as a reference player in the European land defence market, a segment expected to experience sustained growth in the coming years,”
— Roberto Cingolani, CEO and General Manager of Leonardo
The combined strengths of both companies are expected to boost commercial reach by capitalising on their complementary offerings and market access. This includes:
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Integration of Leonardo’s advanced combat electronics and turret systems with Iveco Defence’s vehicle platforms
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Enhanced global sales coverage and market penetration
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Joint development opportunities in next-generation land platforms
Additionally, Leonardo – together with partner Rheinmetall – will explore potential opportunities in the heavy vehicle systems segment.
Strategic and Operational Benefits:
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Increased operational efficiency
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Accelerated joint technology development
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Expanded professional development opportunities across engineering and manufacturing
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Greater supply chain resilience
The transaction is subject to regulatory approvals and is expected to close in Q1 2026.
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