Leonardo has completed its acquisition of Iveco Group’s defense business for $2.25 billion to strengthen its position as a fully-integrated original equipment manufacturer of land defense capabilities. The acquisition includes Iveco Defence Vehicles and ASTRA brands, Leonardo said Wednesday.
The transaction follows the separation of Iveco’s defense unit as part of a broader corporate move tied to Tata Motors’ planned tender offer for Iveco Group shares.
Olof Persson, CEO of Iveco Group, commented that IDV and ASTRA will become a part of a group that has the “scale and integrated capabilities necessary to compete in all scenarios.”
“This milestone marks a pivotal moment for the future of IDV and ASTRA,” he stated. “Our colleagues have shown remarkable dedication in meeting the growing demands for land defence vehicles and the technologies that we have developed.”
How Does the Iveco Defense Acquisition Strengthen Leonardo’s Capabilities?
Leonardo said it will combine its full-spectrum electronics suites with IDV’s vehicle platforms to expand its ability to deliver end-to-end land defense systems to customers.
“The acquisition strengthens our position as a leading player in the land defense sector and enhances our competitiveness in a market offering significant long-term growth potential,” commented Roberto Cingolani, CEO 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.”
What Is Leonardo’s Industrial Plan?
The deal is in line with Leonardo’s 2026–2030 Industrial Plan, which is the company’s strategy to become a multinational “One Company.” The strategy covers mergers and acquisitions, international partnerships, and joint ventures
Earlier in March, Leonardo moved to acquire UK-based Becrypt to enhance its Zero Trust and data protection capabilities to secure critical infrastructure and sensitive data.
In 2025, Leonardo also acquired Swedish company Axiomatics AB, provider of Zero Trust platform for authorization management and data security.