Leonardo has announced a €1.7 billion ($1.95 billion) acquisition of Iveco Defence, which manufactures armored vehicles. The deal is expected to close in early 2026, subject to regulatory clearance. The move expands Leonardo’s ground vehicle capabilities and product portfolio. The announcement came alongside a report of Leonardo’s 11.7% revenue growth for the first half of 2025, with earnings reaching €8.9 billion ($10.1 billion). The company projects total 2025 revenues of €18.6 billion ($21.2 billion).
