Fincantieri-backed INSIS to acquire a majority stake in Support Logistic Services.

Fincantieri-backed INSIS, a company headquartered in Follo operating in the sectors of information technology and electronics, agreed to acquire a majority stake in Support Logistic Services, a company specialized in the production, installation and maintenance of radar, satellite and radio communications systems for military and civil applications. Financial terms were not disclosed. The closing of the transaction is subject to the usual conditions envisaged for comparable operations, as well as to the Italian Government refraining from exercising the “golden power” and to obtaining all the necessary authorizations from the relevant authorities. “This operation fits into our far-reaching strategy to consolidate and safeguard a supply chain made up of small and medium-sized enterprises. A dedicated corporate division will coordinate the various companies, which will continue to operate independently according to their intrinsic business approaches. This will allow them to retain key resources, expanding the pool of expertise of our Group,” Giuseppe Bono, Fincantieri CEO.