Italy's Leonardo buys a European cybersecurity company
PARIS, June 17 (Reuters) - Italy's Leonardo (LDOF.MI), opens new tab 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% 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.
Speaking at the Paris Airshow, the world's largest aerospace gathering, Pontecorvo added there was scope for cooperation among companies in the sector given that cyber threats "are becoming more and more articulated and different, more specific solutions are needed".
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