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FINCANTIERI ACQUIRES CONTROL OF IT COMPANY

Wednesday, April 24, 2019 

As part of the enhancement of its activities in high technological content sectors, Fincantieri has acquired a majority stake of Insis, a company headquartered in Follo (La Spezia) operating in the sectors of information technology and electronics.

Insis is positioned as a solution provider in the defence and civil sector, developing products and services in the field of optronic, telecommunications, information technology and cybersecurity. Insis is acknowledged for the high level of technological content of its products and for having succeeded in preserving a strong customer base in a complex and fragmented market. In 2018, revenue was €51.7 million with strong growth forecasts for 2019. Insis employs a total of 100 people, 70% of whom are engineers, system engineering specialists and skilled technicians.

Fincantieri's recent growth strategy is driven by diversification and widening of its product and services portfolio, shifting the focus to higher added-value solutions. The deal, which is subject to the usual regulatory approvals, gives Fincantieri direct access to a pool of highly skilled human resources, and further guarantees the development of Insis' plans for growth and increased turnover.

Giuseppe Bono, CEO of Fincantieri, commented: "This acquisition falls within the development plan for a centre of excellence in engineering and technology services. These are key areas for innovation, the real pillar of competitiveness, that will allow us to boost skills for which we already stand out, creating synergies within our company. It is also part of the strategy to consolidate the supply chain of small and medium-sized companies which will be coordinated in this centre, where every company will preserve its management, thus strengthening the one of our Group".

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