Shares of Italian shipbuilder Fincantieri jumped after the group said it had sealed agreements to acquire stakes in four companies to shore up its operations across marine construction support, unmanned underwater and surface drone technologies, and underwater wireless communication systems.

The company said it was taking stakes in Next Geosolutions Europe, which operates in the offshore renewable energy, offshore oil and gas and subsea cable sectors; WSense, which specializes in underwater monitoring and communication systems; Defcomm, active in the design and construction of unmanned surface vehicles; and Graal Tech, which makes underwater robotic technologies.

Fincantieri said it would initially spend roughly 600 million euros ($686.1 million) on the deals, drawing funds from a capital increase it completed in February. Subsequently, the group plans to launch a public tender offer to fully acquire NextGeo, using available resources to fund that deal.

Fincantieri shares in Milan gained more than 12% on Monday after the announcement of deals, which are expected to contribute more than 60 million euros to the group's net profit this year. However, the stock is down over 25% since the year began as investors struggled to digest February's capital increase as well as lower revenue and orders in the first quarter.

The group is betting that the four deals will allow it to cash in on the underwater market, an increasingly important segment for defense companies as geopolitical tensions threaten to disrupt security, communications and the supply of commodities. Governments are seeking to shield critical infrastructure like oil and gas pipelines, subsea cables that provide connectivity services.

Fincantieri Chief Executive Pierroberto Folgiero said the four deals would help position the group as an international champion in the underwater domain, a market that is expected to grow significantly over the next few years.

Other companies are also seeking to shore up their underwater capabilities. French aerospace-and-defense group Thales said Monday that it had signed an agreement to acquire a 35.51% stake in Exail Technologies, which specializes in maritime robotics and navigation systems. Thales plans to subsequently take over the company.

Fincantieri is initially acquiring a 52.6% stake in NextGeo ahead of a full takeover. It also plans to take a 75% stake in a vehicle that will hold about 95% of WSense. It will initially acquire a 49% stake in Defcomm, with an option to buy an additional 2% within two years. The company also recently acquired a 51% stake in Graal Tech.

"These acquisitions also allow us to accelerate the execution of our business plan, significantly strengthening profitability while expanding our presence in a fast-growing market," Folgiero said.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

July 06, 2026 05:33 ET (09:33 GMT)

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