The Italian manufacturer Leonardo announced a deal to acquire Iveco Defence Vehicles for US$ 1.9 billion.
The transaction, revealed on July 30, will be financed with own funds and is expected to be completed in the first quarter of 2026, after the necessary regulatory approvals. The goal is to strengthen Leonardo’s presence in the land defense sector by expanding its ability to offer integrated solutions in vehicles and electronic systems.
With this acquisition, Leonardo intends to combine its expertise in sensors, turrets, and electronics with Iveco Defence’s portfolio of armored and tactical vehicles. The synergy between the two companies should facilitate access to new export markets and strengthen service to European clients. Additionally, Leonardo is exploring new collaboration opportunities with Rheinmetall, especially in heavy vehicles.
Iveco Defence, based in Bolzano, had revenue of US$ 1.2 billion in 2024 and employs about 2,000 people, operating factories in Germany, Romania, and Brazil.
The acquisition comes at a time of expansion in the European defense sector, driven by the war in Ukraine, NATO force strengthening, and the need to replenish military stocks.
Source: UK Defence Journal | Photo: Instagram @we_are_idv | This content was created with the help of AI and reviewed by the editorial team
“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. This transaction reinforces Leonardo’s position as a reference player in the European land defence market, a…
— Leonardo (@Leonardo_live) July 30, 2025
