Fincantieri Acquires IT Firm Insis

Italian shipbuilder Fincantieri said on Tuesday it had acquired a majority stake in information technology company Insis, to widen the range of products and services it offers.

The state-controlled group did not revealed the financial terms of the deal, adding that Insis, which employees 100 people, posted revenue of 51.7 million euros ($58 million) last year.

Insis, which has its headquarters near the port city of La Spezia, develops products and services in IT, electronics, telecommunications and cybersecurity.

Its clients belong to both the public and defence sectors, Finmeccanica said.

Reporting by Maria Pia Quaglia