Italian cable company Prysmian is exploring a potential acquisition worth approximately four billion euros. At the same time, the company says it is close to securing long-term contracts with hyperscalers for data centers. CEO Massimo Battaini’s statements caused the company’s stock price to rise by 6.37 percent within a few hours, at the time of writing.
Prysmian specializes in optical cables, including the submarine cables that are crucial to the global internet. Battaini reported this to Bloomberg News in an interview published today. His company now has enough financial clout to consider acquisitions. A deal worth around 4 billion euros could be possible within the coming year, a figure that makes it comparable to Encore Wire, which was acquired in 2024.
Financial clout behind the strategy
To finance acquisitions and major projects, shareholders approved a capital increase of up to ten percent earlier this year. That is certainly justified, given Prysmian’s ambitions. In 2025, Prysmian achieved record revenue of 20 billion euros, while the transmission division met its 2028 profitability targets three years ahead of schedule. Following the acquisition of Encore Wire, Prysmian also acquired Channell in 2025, adding more than 3,000 employees to the organization.
Hyperscalers as a driver of growth
In addition to the expansion plans, Battaini told Bloomberg that Prysmian is close to finalizing long-term contracts with hyperscalers. These deals are intended to support future growth in data centers. Such agreements could increase optical cable capacity by 40 to 50 percent in the coming years. The investment for this would amount to more than $1.2 billion over three years, with expected revenue of more than $5 billion.
Prysmian is also innovating aggressively to stay competitive. In February, the company unveiled a new single-mode fiber with a coating diameter of 160 microns, primarily aimed at achieving higher fiber density in confined spaces such as data centers.