Prysmian Group (80%) Fincantieri (20%) Xtera Topco Ltd EXA Meridian (24 FPs, >500 Tbps) Turnkey Subsea Supply Chain
On October 13, 2026, global cable giant Prysmian completed the acquisition of Xtera Topco Limited through a joint venture vehicle held alongside Italian naval defense shipbuilder Fincantieri (80/20 equity split). Valuing Xtera at an enterprise value of $65 million, the transaction marks the emergence of a formidable, vertically integrated European turnkey supplier in the international submarine telecommunications market.
