Leonardo acquires Iveco defence vehicles for €1.7 billion

Rome: Italy’s Leonardo is going to purchase IDV, the military subsidiary of Iveco Group, for €1.7 billion. This would enlarge Leonardo’s land systems portfolio.

Leonardo has agreed to buy Iveco Group’s military vehicle branch, Iveco Defence Vehicles (IDV), for €1.7 billion. The transaction comprises IDV’s wheeled armoured vehicles and Astra-branded heavy-duty trucks, media reports said.

The present cash reserves that Leonardo possesses will be sufficient to finance the total cost of the transaction, which is scheduled to be finalised in the first quarter of 2026.

Through this acquisition, Leonardo has taken a significant step towards achieving its objective of increasing the number of land systems products it offers and enhancing its competitive position within the European military sector.

The firm aims to provide more integrated and technologically advanced land solutions by combining IDV’s vehicle platforms with Leonardo’s powerful electrical systems.

The deal may also pave the way for deeper collaboration with Germany’s Rheinmetall, Leonardo’s current partner on heavy ground platforms.