Leonardo announces that it has acquired 30% of the capital of Electronic gem, an Italian company specialized in the production of small and medium sized 3D radars, sensors and systems especially for the maritime sector. The agreement provides for a call and put option mechanism to be exercised in 2024 which would allow Leonardo to acquire control of the company.
The defense group specifies that the operation "will contribute to the competitive strengthening in the naval electronics business, in particular of short and medium-range sensors, and will allow Leonardo to expand and diversify its offer, as well as improve engineering processes , production and marketing of products of a different range than those in the portfolio".
Gem has about 130 employees and operates on sectors complementary to those of Leonardo, producing systems such as navigation radar and coastal monitoring. The company is also active in the maritime and border surveillance market and produces (almost exclusively in-house) important components for Leonardo's products.
The two companies also signeda commercial and industrial understanding aimed at developing synergies in some areas of competence of Gem complementary to Leonardo's business - continues the note - to propose promotional activities on the markets and to define and implement joint research and development projects".
Gem had already been collaborating with Leonardo for years on numerous projects, including the Fremm program and the Naval Law, the plan to modernize the Italian Navy's fleet.
The alliance, concludes the note, aims to strengthen capabilities in the reference sector to increase competitiveness in the long term, in line with the "Be Tomorrow - Leonardo 2030" Strategic Plan.
Mid morning Leonardo's share on the Stock Exchange it gains 1,25%, to 6,958 euros, while in the same minutes the Ftse Mib travels in positive territory by about half a percentage point.
