Latest news with #StefanoPontecorvo
The Star
2 days ago
- Business
- The Star
Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase
Leonardo logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration HELSINKI (Reuters) -Italy's Leonardo will buy a 24.55% stake in Finland's SSH, making it the latter's biggest shareholder as it expands its cyber security business with this new strategic partnership, the companies announced on Tuesday. The Italian aerospace and defence group sees cyber security as key for its development and expects double-digit growth in it in the coming years. The chair of Leonardo, Stefano Pontecorvo, told Reuters recently that the cyber security arena has become essential in new, interconnected multi-domain warfare systems, underscoring the strategic significance of the acquisition. The deal, subject to conditions, consists of a 20 million euro share issue by SSH to Leonardo, after which Leonardo would be SSH's largest shareholder, SSH said. The current largest owner, Accendo Capital, will continue to hold 20.87%. SSH offers technologies for securing activities in hybrid cloud environments, including quantum-safe encryption. "The agreement combines SSH's technological expertise with Leonardo's technologies and solutions, advanced assets and services, and domain-specific knowledge," Leonardo's Chief Executive Roberto Cingolani said in a statement. The initiative represents a significant step towards the development of a 'Made in Europe' Zero Trust ecosystem, Leonardo said, referring to a cyber security approach in which no one can be trusted with access to data. (Reporting by Anne Kauranen in Helsinki and Giulia Segreti in Rome;Editing by Bernadette Baum)
CNA
2 days ago
- Business
- CNA
Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase
HELSINKI :Italy's Leonardo will buy a 24.55 per cent stake in Finland's SSH, making it the latter's biggest shareholder as it expands its cyber security business with this new strategic partnership, the companies announced on Tuesday. The Italian aerospace and defence group sees cyber security as key for its development and expects double-digit growth in it in the coming years. The chair of Leonardo, Stefano Pontecorvo, told Reuters recently that the cyber security arena has become essential in new, interconnected multi-domain warfare systems, underscoring the strategic significance of the acquisition. The deal, subject to conditions, consists of a 20 million euro share issue by SSH to Leonardo, after which Leonardo would be SSH's largest shareholder, SSH said. The current largest owner, Accendo Capital, will continue to hold 20.87 per cent. SSH offers technologies for securing activities in hybrid cloud environments, including quantum-safe encryption. "The agreement combines SSH's technological expertise with Leonardo's technologies and solutions, advanced assets and services, and domain-specific knowledge," Leonardo's Chief Executive Roberto Cingolani said in a statement. The initiative represents a significant step towards the development of a 'Made in Europe' Zero Trust ecosystem, Leonardo said, referring to a cyber security approach in which no one can be trusted with access to data.
Yahoo
2 days ago
- Business
- Yahoo
Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase
By Anne Kauranen HELSINKI (Reuters) -Italy's Leonardo will buy a 24.55% stake in Finland's SSH, making it the latter's biggest shareholder as it expands its cyber security business with this new strategic partnership, the companies announced on Tuesday. The Italian aerospace and defence group sees cyber security as key for its development and expects double-digit growth in it in the coming years. The chair of Leonardo, Stefano Pontecorvo, told Reuters recently that the cyber security arena has become essential in new, interconnected multi-domain warfare systems, underscoring the strategic significance of the acquisition. The deal, subject to conditions, consists of a 20 million euro share issue by SSH to Leonardo, after which Leonardo would be SSH's largest shareholder, SSH said. The current largest owner, Accendo Capital, will continue to hold 20.87%. SSH offers technologies for securing activities in hybrid cloud environments, including quantum-safe encryption. "The agreement combines SSH's technological expertise with Leonardo's technologies and solutions, advanced assets and services, and domain-specific knowledge," Leonardo's Chief Executive Roberto Cingolani said in a statement. The initiative represents a significant step towards the development of a 'Made in Europe' Zero Trust ecosystem, Leonardo said, referring to a cyber security approach in which no one can be trusted with access to data. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase
HELSINKI, July 1 (Reuters) - Italy's Leonardo ( opens new tab will buy a 24.55% stake in Finland's SSH ( opens new tab, making it the latter's biggest shareholder as it expands its cyber security business with this new strategic partnership, the companies announced on Tuesday. The Italian aerospace and defence group sees cyber security as key for its development and expects double-digit growth in it in the coming years. The chair of Leonardo, Stefano Pontecorvo, told Reuters recently that the cyber security arena has become essential in new, interconnected multi-domain warfare systems, underscoring the strategic significance of the acquisition. The deal, subject to conditions, consists of a 20 million euro share issue by SSH to Leonardo, after which Leonardo would be SSH's largest shareholder, SSH said. The current largest owner, Accendo Capital, will continue to hold 20.87%. SSH offers technologies for securing activities in hybrid cloud environments, including quantum-safe encryption. "The agreement combines SSH's technological expertise with Leonardo's technologies and solutions, advanced assets and services, and domain-specific knowledge," Leonardo's Chief Executive Roberto Cingolani said in a statement. The initiative represents a significant step towards the development of a 'Made in Europe' Zero Trust ecosystem, Leonardo said, referring to a cyber security approach, opens new tab in which no one can be trusted with access to data.
CNA
17-06-2025
- Business
- CNA
Italy's Leonardo buys a European cybersecurity company
PARIS :Italy's Leonardo will soon announce the acquisition of a European cybersecurity company, its chairman told Reuters on Tuesday, as the aerospace and defence group consolidates a business seen as increasingly important in new combat systems. "Cybersecurity is an essential component in so-called multi-domain warfare, where everything is connected with everything. Connections must be secure so that the enemy cannot use parts of a system," Stefano Pontecorvo said. Pontecorvo did not name the company or give a more precise timeframe. In October, Leonardo's Chief Executive Roberto Cingolani said the state-controlled company was looking at dozens of domestic and foreign companies for possible acquisitions, cautioning that no single deal would cost more than 15 per cent of the cybersecurity division's turnover. He had added that the group expected double-digit percentage growth in the cybersecurity business in the coming years.
