Fincantieri acquires control of Insis
The Group will benefit from an in-house center in engineering & technology services
As part of the enhancement of its activities in high technological content sectors, Fincantieri has acquired a majority stake of Insis, a company headquartered in Follo (La Spezia) operating in the sectors of information technology and electronics.
Insis is positioned as solution provider in the defense and civil sector and ranks upon its expertise the development of products and services in the field of optronic, telecommunications, information technology and cybersecurity. In this area of activities, the company is acknowledged for the high level of technological content of its products and for having succeeded in preserving a strong customer base in a complex and fragmented market. In 2018, the company recorded revenues of 51.7 million euros with strong growth forecasts for 2019. Overall, it employs a total of 100 people, 70% of whom engineers, system engineering specialists and skilled technicians, namely a pool of expertise difficult to find on the market or which can be developed internally over a long period of time.
Over the last years, Fincantieri has undertaken a growth strategy run by diversification and by the widening of its product and services portfolio, shifting its focus on higher added-value solutions. Hence, this operation allows Fincantieri to have direct access to a pool of highly skilled human resources, thus creating an excellence center with very high technological content dedicated to defence systems engineering. At the same time it further guarantees the development of Insis’ industrial plan, allowing the company to undertake important growth paths and further increasing its turnover.
The closing of the operation will be subject to customary conditions for these kind of operations, to the non-exercise of the Italian government’s golden power, as well as to the authorization from the competent authorities.
Giuseppe Bono, CEO of Fincantieri, commented: “This acquisition falls within the development plan for a center of excellence in engineering and technology services. These are key areas for innovation, the real pillar of competitiveness, that will allow us to boost skills for which we already stand out, creating synergies within our company. It is also part of the strategy to consolidate the supply chain of small and medium-sized companies which will be coordinated in this center, where every company will preserve its management, thus strengthening the one of our Group”.
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