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Leonardo nears deals to grow in cybersecurity, space and drone industries, CEO says

Reuters
·1-min read

MILAN (Reuters) - Leonardo is poised to expand in the cybersecurity, space and drone industries through M&A activity, the head of the Italian defence group said on Wednesday.

"We have some due diligence processes under way and we are pretty close to striking deals," CEO Roberto Cingolani told reporters on the sideline of an event in Milan.

"We hope to finalise shortly deals across those three areas," added Cingolani, a minister in the previous Italian government.

Presenting its 2024-2028 industrial plan in March, Leonardo said it would strengthen its core businesses - helicopters, electronics and aircraft - while investing in digitalisation and artificial intelligence and leveraging opportunities in cybersecurity and space.

(Reporting by Elvira Pollina; Editing by Keith Weir)