The acquisition represents a significant step in Leonardo’s strategy to strengthen its role as a leading and fully integrated original equipment manufacturer in the land defence sector. By integrating the newly acquired capabilities, the company aims to expand its portfolio of defence and security solutions covering both tracked and wheeled military platforms.
“The acquisition strengthens our position as a leading player in the land defence sector and enhances our competitiveness in a market offering significant long-term growth potential,” said Roberto Cingolani, Chief Executive Officer and General Manager of Leonardo. “Through this transaction, Leonardo acquires the industrial capabilities required to deliver fully integrated platforms, spanning both mobility and payload, and takes a further step forward in inorganic growth strategy, one of the pillars underpinning the execution of our Industrial Plan.”
According to Leonardo, the integration of Iveco’s defence operations will improve the combined commercial reach of the two companies. The complementary nature of their sales networks is expected to strengthen their ability to offer integrated defence solutions in markets with strong growth potential.
Leonardo’s electronic systems, including command-and-control technologies, electro-optical sensors and advanced turret systems, will be combined with IDV’s military vehicle platforms. The company said this integration will enable the delivery of comprehensive operational solutions while supporting further technological development.
The acquisition also brings together the specialised expertise of both companies in their respective areas of activity. Leonardo said the combination of engineering knowledge, manufacturing capacity and logistics capabilities will generate operational synergies and create opportunities to strengthen workforce skills.
As part of the transaction, Iveco Group’s defence activities have been separated and reorganised under a single Italian holding company, IDV Group S.r.l., of which Leonardo has acquired 100 percent of the share capital. The business reported revenues of €1.368 billion in 2025.
IDV Group operates six manufacturing sites located in Italy, Germany, Romania and Brazil and employs around 2,000 people. It also maintains 12 commercial offices across Europe, the United States and Brazil, as well as seven research and development centres in Italy, Brazil, the United Kingdom and Germany.
The product portfolio of the newly acquired business includes light and medium armoured vehicles, heavy armoured platforms, and logistical and tactical vehicles designed primarily for military use. Leonardo said the acquisition further consolidates its presence in the European land defence market while strengthening its ability to deliver integrated solutions to defence customers.
