Leonardo, led by CEO Roberto Cingolani, is pursuing an active strategy of acquiring cybersecurity firms in the Nordic region. The goal is to integrate advanced digital expertise into Leonardo’s portfolio and bolster Europe’s ability to counter evolving cyber threats.
Stake in Finnish firm SSH
In July 2024, Leonardo invested €20 million ($23 million) to acquire a 25% stake in SSH, a Finnish cybersecurity company. The move made Leonardo the largest shareholder in SSH, enabling the integration of its cryptographic and secure access technologies into Leonardo’s defense-focused offerings.
Acquisition of Swedish company Axiomatics
Just a week later, Leonardo announced the acquisition of Axiomatics, a Swedish specialist in dynamic authorization. This deal followed earlier investments in Nordic firms, including a stake in CanaryBit (Sweden) and a partnership with Arbit (Denmark).
Together, these acquisitions underline Leonardo’s strategy of building a strong presence in the Nordic cybersecurity ecosystem.
Strategic vision for European digital autonomy
Cingolani described the acquisitions as part of a broader mission to develop independent and resilient European digital ecosystems. The focus is on technologies designed and governed within Europe, supporting both digital sovereignty and competitiveness in global markets.
He noted that Nordic firms combine advanced technical expertise with values such as transparency, security, and technological independence, making them ideal partners for Leonardo.
Zero Trust as the cornerstone of cyber defense
Leonardo plans to leverage these acquisitions to advance a European initiative centered on Zero Trust cybersecurity.
- Zero Trust replaces perimeter-based security with continuous verification of every access request.
- The model is built on the principle of “never trust, always verify.”
- It is considered critical for defense and critical infrastructure systems, where resilience depends on rigorous authentication and authorization.
Cingolani stressed that Zero Trust is no longer optional but a requirement for securing modern, interconnected systems.
Impact on defense and critical infrastructure
Both SSH and Axiomatics have established relationships with government agencies and provide essential expertise in cryptography, secure access, and dynamic authorization. These capabilities will be instrumental in strengthening Europe’s ability to protect critical infrastructure and next-generation combat systems.
Cingolani emphasized that cybersecurity must be treated as a fundamental design principle across all domains—air, land, sea, and space.
Business performance and growth in cybersecurity
Leonardo reported €648 million in revenue from its Cyber and Security Solutions division in the previous year, with new orders rising 20.4% to €833 million. These figures highlight the growing demand for trusted European cybersecurity solutions.
Cingolani, who became CEO in 2023, has made cyber defense a central pillar of Leonardo’s strategy, leveraging his background in physics to approach digital resilience with an analytical and systemic perspective.
Cybersecurity as a strategic battleground
Cingolani described the cyber domain as both a battleground and a strategic asset, noting that the combination of rapid digitization and the rise of artificial intelligence is expanding the attack surface.
He concluded that in the future, no advanced defense technology can exist without cybersecurity as a core foundation.
