Prysmian to Buy ACSM Subsea Cable Company

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)

(Reuters)