Prysmian and Fincantieri to acquire Xtera from HIG Capital.

Prysmian, a company specializing in transmission and storage systems, and Fincantieri, a shipbuilding company, agreed to acquire Xtera, a network equipment and services company, from HIG Capital, a global alternative asset investment firm. Financial terms are not disclosed. "H.I.G. has been an exceptional partner to Xtera since establishing the Company in 2017. Through H.I.G.'s investment, we have been able to rebuild a formidable competitor in the subsea telecoms industry, with substantial growth in all of our operations. We look forward to continuing this momentum under the ownership of Prysmian and Fincantieri to deliver even greater breadth across the value chain," Keith Henderson, Xtera CEO.