Leonardo
Italian state-controlled aerospace and defence group acquiring UK cyber firm Becrypt, which holds Top Secret classification clearance.
Last refreshed: 7 June 2026 · Appears in 1 active topic
What does Italy's state-backed Leonardo buying a UK Top Secret-cleared cybersecurity firm mean for the UK's classified supply chain?
- What is Leonardo and why is it buying a UK cybersecurity firm?
- Leonardo S.p.A. is Italy's state-backed aerospace and defence group, a NATO member-state's national champion contractor covering helicopters, aircraft, defence electronics and cybersecurity. It announced the acquisition of Becrypt in March 2026 to expand its cybersecurity portfolio into the UK Government and defence market. Becrypt holds UK clearance to protect data at Top Secret level, making it a high-value acquisition for sovereign defence supply chain expansion.Source: Leonardo S.p.A. press release
- Is the Leonardo acquisition of Becrypt a security risk for the UK?
- UK regulators review foreign acquisitions of national security-sensitive firms under the National Security and Investment Act. Leonardo is Italian state-backed, Italy is a NATO ally, and the acquisition was structured to maintain Becrypt's UK operational structure. However, Italian state interest in a UK Top Secret-cleared vendor is a factor that UK regulators and the MoD must assess for supply-chain continuity and foreign-visibility risk.Source: Leonardo press release / UK National Security and Investment Act
- When is the Leonardo-Becrypt deal expected to close?
- Leonardo announced the Becrypt acquisition in March 2026 with a Q2 2026 expected close, subject to regulatory approval. As of June 2026 the deal remained pending.Source: Leonardo S.p.A. press release
Background
Leonardo S.p.A. is Italy's national aerospace, defence and security group, majority-owned by the Italian government via the Ministry of Economy and Finance. It operates across helicopters, aircraft, electronics systems, cyber and defence technology, and space systems, making it one of Europe's largest defence contractors. Leonardo has an active cybersecurity division that provides services to government, defence and critical infrastructure clients across Europe.
In March 2026, Leonardo announced the acquisition of Becrypt, a UK cybersecurity firm with UK Government clearance to protect data to Top Secret classification, supplying the UK Ministry of Defence, GCHQ and other sensitive government clients. The deal was expected to close in Q2 2026, pending regulatory approvals. The acquisition moves a UK-cleared sovereign crypto supplier into the ownership of a foreign state-controlled defence group, raising continuity questions about UK MoD contract relationships and the security of classified information-handling supply chains.
The Leonardo-Becrypt deal is significant for UK defence-industrial policy because Becrypt occupies a narrow, high-value niche: few commercial firms hold UK Government clearance to Top Secret level. The acquisition is structured under Italian sovereign-defence ownership, meaning the Italian state has indirect visibility of a UK Government-cleared security vendor. This is not unique in European defence consolidation — NATO allies regularly acquire each other's defence suppliers — but it introduces a layer of foreign-state interest into UK classified supply chains that UK regulators must assess under the National Security and Investment Act.