Italian defense company Leonardo is considering about a dozen domestic and international firms for potential acquisitions in the cybersecurity sector, with plans to finalize some deals by the end of the year, as said by its CEO.

“These are long processes, and we have been carrying out many of them in the last seven, eight months,” CEO Roberto Cingolani told reporters on the sidelines of the Cybertech Europe conference in Rome, adding that “probably” some deals could be closed by the end of the year.

Cingolani stated that no individual acquisition would exceed 15% of the division’s revenue, in line with the group’s strategy outlined in March. During the conference, he also highlighted that Leonardo anticipates double-digit growth in its cyber-security sector, which is central to their strategic development.

CEO of Leonardo, Roberto Cingolani said, “We expect to grow double-digit in the cyber market over the next years with the objective of becoming a key European player.”

In its 2024-2028 industrial plan unveiled in March, Leonardo announced its commitment to bolstering its core businesses while also investing in digitalization. The company aims to capitalize on opportunities in cyber security, anticipating growth in orders and revenues of 16% and 13%, respectively, over the five-year period.