Leonardo acquires Iveco Defence Vehicles (IDV).
Leonardo Acquires Iveco Defence: ROME – In a significant move to strengthen its position in the European land defense sector, Italian multinational giant Leonardo announced today its agreement to acquire Iveco Defence, a division of the Iveco Group. The strategic acquisition, valued at EUR 1.7 billion, will be financed through Leonardo’s available cash resources and is expected to close in the first quarter of 2026, pending regulatory approvals.
The deal is a key component of Leonardo’s “inorganic growth strategy” and its broader industrial plan, according to CEO and General Manager Roberto Cingolani. “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,” Cingolani stated.
The acquisition of Iveco Defence is poised to create a more powerful, integrated entity in the defense landscape. Iveco Defence, with its strong portfolio of tracked and wheeled vehicles—including light, medium, and heavy armored platforms—will be merged with Leonardo’s expertise in electronic systems, sensors, and turrets. This integration promises to deliver more effective and comprehensive operational solutions for clients.
Leonardo acquires Ivece Defence Vehicle.
READ: NISAR Satellite Marks Historic Milestone in U.S.-India Space Cooperation
Iveco Defence, headquartered in Bolzano, Italy, is a substantial player in its own right. In 2024, the company reported revenues of €1.133 billion and employed approximately 2,000 people across five manufacturing sites in Germany, Romania, and Brazil, and maintained a global network of R&D centers and commercial offices. The company’s diverse product line includes everything from light tactical vehicles to heavy armored platforms and logistic trucks, primarily for military use.
The synergy between the two companies’ offerings is expected to enhance their joint commercial positioning. By combining their respective sales networks and capabilities, Leonardo aims to provide integrated solutions to high-potential markets. Furthermore, the acquisition is anticipated to drive greater operational efficiency and accelerate joint technological development, fostering new opportunities for professional growth and skill enhancement within the combined workforce.
Leonardo also revealed that it will collaborate with its partner, Rheinmetall, to explore potential opportunities related to heavy vehicle systems. The partnership signals Leonardo’s ambition to become a fully integrated Original Equipment Manufacturer (OEM) in the land defense domain, a move that could reshape the competitive dynamics of the European defense industry.
READ: Airbus CO3D Satellite Constellation Launched to Map Earth in 3D
Leonardo acquires Ivece Defence Vehicle.
READ: Godrej Enterprises Will Manufacture Precision Aircraft Engine Parts for Pratt & Whitney
About Iveco Defence
Iveco Defence Vehicles is a division of the Iveco Group, headquartered in Bolzano, Italy. In 2024, the company reported revenues of €1.133 billion and an EBIT of €108 million.
The business operates five manufacturing sites (in Germany, Romania, and Brazil), employs approximately 2,000 people, and maintains nine commercial offices across Europe, the United States, and Brazil. It also runs six research and development centers located in Italy, Brazil, the United Kingdom, and Germany.
The product portfolio spans light and medium armoured vehicles, heavy armoured platforms, and logistic and tactical vehicles, primarily for military applications.
About Leonardo
Leonardo S.p.A. is a global leader in the aerospace, defense, and security sectors. Headquartered in Rome, Italy, the company operates across a range of key business areas, including Helicopters, Aircraft, Aerostructures, Electronics, and Cybersecurity. With a strong presence in Italy, the UK, the US, and Poland, Leonardo is a prominent provider of advanced technologies and solutions for governments, military forces, and civilian markets worldwide. The company is involved in major international projects, such as the Eurofighter Typhoon and the Global Combat Air Programme, and is known for its wide array of products, from training aircraft and naval artillery to advanced radar systems and satellite communication technologies.
READ: BWX Technologies Wins $2.6 Billion US Navy’s Naval Nuclear Reactor Deal