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Iveco Defence manufactures vehicles for defence and civil protection. Credit: Flying Camera / Shutterstock

Italian aerospace and defence conglomerate Leonardo has entered into agreement to acquire Iveco Group’s defence division for an enterprise value of €1.7bn ($1.9bn). The agreement encompasses both IDV, known for its specialised vehicles for defence and civil protection, and ASTRA, which produces heavy-duty trucks designed for extreme off-road conditions. This acquisition is in line with Leonardo’s plan to solidify its position as a fully integrated Original Equipment Manufacturer (OEM). 

Thyssenkrupp’s shareholders have given assent to the spin-off of the conglomerate’s marine business, TKMS, paving the way for it to become an independent entity in the maritime defence market with its own public listing..The transaction will see 49% of new TKMS shares directly transferred to Thyssenkrupp shareholders, while Thyssenkrupp will maintain a 51% majority stake.

Spain-based Indra Group has acquired Aertec Defence & Aerial Systems (DAS), a specialist in uncrewed aerial systems (UAS), bolstering its presence in the sector. The acquisition strengthens Indra’s position to compete for contracts within the ReArm Europe programme, which outlines over €800bn in defence investment and recognises UAS as a key capability. Indra aims to expedite the growth of the company, opening doors to new initiatives in a segment poised for substantial global expansion.

BAE Systems has taken an equity stake in UK-based deep-tech start-up Oxford Dynamics, as part of its effort to seek out and quickly integrate next-gen technologies. The partnership aims to leverage BAE Systems’ expertise in defence and security with Oxford Dynamics’ capabilities in AI-driven data analysis. The goal is to enhance the UK and its allies’ capabilities across air, land, sea, space, and cyber.