Leonardo, Italy’s leading defense and aerospace group, announced plans to purchase Iveco Defence for €1.7 billion ($1.95 billion). Iveco Defence specializes in armored vehicles used across military and civilian operations and will enhance Leonardo’s capabilities in land-based defense platforms.
The deal is expected to be completed in the first quarter of 2026, pending the necessary regulatory clearances. The acquisition reflects Leonardo’s ambition to diversify and grow its defense portfolio.
In a separate financial update, Leonardo revealed a revenue increase of 11.7 percent for the first half of the year, reaching €8.9 billion ($10.1 billion).
Despite the ongoing acquisition, the company reaffirmed its full-year revenue guidance of around €18.6 billion ($21.2 billion), signaling continued confidence in its business trajectory.
