The strategic acquisition aligns with Leonardo’s plan to expand its presence as a fully integrated Original Equipment Manufacturer (OEM) in land defence. Iveco Defence’s portfolio includes light and medium armoured vehicles, heavy armoured platforms, and logistic and tactical vehicles, strengthening Leonardo’s offering of tracked and wheeled solutions for defence and security.

“The acquisition of Iveco Defence represents a key milestone in the execution of our inorganic growth strategy and supports the full implementation of our Industrial Plan,” said Roberto Cingolani, CEO and General Manager of Leonardo. “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.”

The integration will leverage the complementary strengths of both companies, combining Leonardo’s combat electronics, sensors, and next-generation turrets with Iveco Defence’s platforms. This synergy aims to improve operational efficiency, accelerate technological development, and expand opportunities in high-potential markets. Additionally, the collaboration with Rheinmetall will explore further opportunities in the heavy vehicle domain.

Iveco Defence Vehicles operates five manufacturing sites across Germany, Romania, and Brazil, employs about 2,000 people, and maintains nine commercial offices in Europe, the United States, and Brazil. Its six research and development centres in Italy, Brazil, the UK, and Germany reinforce its capabilities to support future innovation.

Leonardo was advised by Morgan Stanley & Co. International Plc as financial advisor and Bonelli Erede as legal advisor.