Published by Global Banking & Finance Review®
Posted on January 23, 2026
1 min readLast updated: January 23, 2026
Prysmian is set to acquire ACSM for €169 million, enhancing its submarine cable operations. The deal will be funded by cash reserves and is expected to close by February.
Jan 23 (Reuters) - Italy's cable maker Prysmian plans to buy Spain-based ACSM, a submarine cable installation company, in a 169-million-euros ($198 million) deal, it said on Friday.
The world's largest cable maker said the transaction will be funded using cash from its balance sheet and is expected to close by February.
The acquisition will bring subsea surveying, seabed preparation and installation capabilities in-house, it said.
Prysmian completed two major acquisitions in the last years, both in the U.S., finalising a $1.15 billion deal for Channel in 2025 and acquiring Encore Wire for about $4.2 billion in mid-2024.
($1 = 0.8523 euros)
(Reporting by Romolo Tosiani in Gdansk; Editing by Matt Scuffham)
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control of that company.
Submarine cables are undersea cables used to transmit telecommunications signals across bodies of water, connecting different land-based networks.
Financial management involves planning, organizing, directing, and controlling the financial activities of an organization to achieve its financial goals.
A cash balance sheet is a financial statement that summarizes a company's cash inflows and outflows, reflecting its liquidity position.
A strategic acquisition is a purchase made by a company to enhance its competitive advantage, expand its market presence, or achieve synergies.
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