H.I.G. Capital Signs Binding Agreement for the Sale of Xtera [Yahoo! Finance]
PRYSMIAN S.P.A. UNSP/ADR (PRYMY)
NASDAQ:AMEX Investor Relations:
prysmiangroup.com/en/investors
Company Research
Source: Yahoo! Finance
management, is pleased to announce that one of its affiliates has entered into a binding agreement for the sale of its portfolio company, Xtera Limited (including members of its group, "Xtera" or the "Company"), to a joint venture led by Prysmian S.p.A. and Fincantieri S.p.A. The sale of Xtera remains subject to regulatory approvals, and completion of the transaction is expected to occur in the first quarter of 2026. Headquartered in London, UK, Xtera is a leading provider of subsea telecom networks. The company operates in a market which is experiencing rapid growth, driven by global demand for bandwidth, the need for enhanced global connectivity and redundancy, and the rapid development of data centre traffic. Xtera's focus on innovation and its track record of project delivery to its clients, including the U.S. Department of Defense and blue-chip telecom operators, position it as a trusted provider of turnkey systems. H.I.G. established Xtera in 2017 through the acquisition of
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