Xtera is acquired by a joint venture between Prysmian (80% stake) and Fincantieri (20% stake), enabling Prysmian to become a competitive global player in submarine telecom solutions. The acquisition of Xtera will be carried out from an affiliate of H.I.G. Capital, LLC.
Dec 29, 2025
A Prysmian led joint venture with Fincantieri has signed an agreement to acquire Xtera Topco Limited (Xtera), a UK and US-based leader in turnkey submarine telecom systems, enabling Prysmian to become a competitive global player in submarine telecom solutions.
The acquisition of Xtera from an affiliate of H.I.G. Capital, LLC (H.I.G.), a leading global alternative investment firm with USD 72 billion of capital under management, will be carried out through the aforementioned joint venture between Prysmian (80% stake) and Fincantieri (20% stake).
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Prysmian and Fincantieri have also established a partnership which includes the development of innovative installation and security services to become a one-stop shop for comprehensive submarine telecom solutions.
Submarine telecom cables are major strategic assets and have long-term growth prospects. The adoption of AI is fueling the expansion of data centers and hyperscalers that will require regional and long-haul submarine connections.
Security will be central to Prysmian’s offer, as its established assets in monitoring and know-how in installation and cable production. This will be combined with Fincantieri’s role as a leader for the development of integrated solutions in the underwater domain, focusing on unmanned and security solutions.
Mr. Raul Gil, EVP Transmission at Prysmian, said, “Thanks to the acquisition of Xtera, we have made a significant leap forward in submarine telecoms, where growth is accelerating driven by the adoption of AI. As the market leader in submarine energy cables, we will now be competitive in delivering regional and long-haul telecom connections globally. Security is a differentiator for our customers, and also thanks to the partnership with Fincantieri, we will offer unique and technologically advanced solutions to the market in a one-stop shop.”
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Mr. Pierroberto Folgiero, CEO and Managing Director at Fincantieri, commented, “This operation marks a significant step forward in implementing our industrial vision, which positions the underwater sector as one of the Group’s strategic pillars, both now and in the future. By covering every area of this field—including through partnerships with leading companies such as Prysmian—we are strengthening our ability to anticipate global challenges and drive innovation across the entire value chain’’
Mr. Keith Henderson, CEO at Xtera, added: “This investment marks a significant milestone in Xtera’s journey to further strengthen our competitive position in subsea telecom systems. We look forward to partnering with Prysmian and Fincantieri to deliver even greater breadth across the value chain to telecom operators and private subsea system owners.”
