PRYSMIAN HUNTS €4B ACQUISITION TARGET

INDUSTRY DESK■ 1 MIN READ

TUE, MAY 12, 2026

■ AI-SUMMARIZED FROM 3 SOURCES ▸ TIMELINE

Italian cable manufacturer Prysmian is actively seeking M&A opportunities worth approximately €4 billion ($4.68 billion), CEO Massimo Battaini announced Tuesday. The move comes as hyperscaler infrastructure deals accelerate.

Battaini told Bloomberg TV that potential targets would be comparable in size to Encore Wire, which Prysmian acquired in 2024. The €4 billion enterprise value range reflects the company's appetite for mid-sized cable and infrastructure assets. The announcement signals Prysmian's confidence in the market amid growing demand from major cloud and data center operators. Hyperscalers including Amazon, Microsoft, and Google are expanding infrastructure spending, driving opportunities for cable suppliers. Prysmian shares rose on the M&A comments, reflecting investor optimism about growth prospects. The company is positioning itself to capitalize on the digital infrastructure boom, which continues to reshape the cable and connectivity sector globally. The Italian manufacturer remains one of Europe's largest cable producers, with operations spanning power, telecom, and industrial markets.

■ SOURCES

► Bloomberg Tech ► Bloomberg Tech ► Bloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

■ MORE FROM THE BUSINESS DESK

P807TIM COOK EXITS APPLE WITH $4.6T LEGACY

Tim Cook stepped down as Apple CEO on Tuesday after transforming the company's market capitalization from under $350 billion in 2011 to $4.6 trillion today—a 2,736% total return. Annual revenue nearly tripled from $157 billion in FY 2012 to approximately $477 billion in FY 2026.

JUST NOW— Industry Desk

P801SALESFORCE INVESTS $160M IN HIBOB AT $3.2B VALUATION

Salesforce is backing HR software company HiBob with a $160 million investment as part of a funding round that values the startup at over $3.2 billion.

1H AGO— Industry Desk

P798ONE IN THREE UK ADULTS USE ILLEGAL STREAMING

A new study shows approximately 33% of UK adults accessed illegal streaming services in the past three months. The piracy costs the sports, TV, and film industries an estimated £1.4 billion annually.

2H AGO— Industry Desk

P797Z.AI REVENUE SURGES 5X TO $142M ON API BOOM

Hong Kong-listed Z.ai posted H1 2026 revenue of $142 million, a fivefold jump year-over-year, driven by explosive growth in its open platform and API business. The Chinese AI firm narrowed net losses to $308 million, down 12% from the prior year period.

2H AGO— AI Desk

◄ BACK TO NEWS

PRYSMIAN HUNTS €4B ACQUISITION TARGET

■ MORE FROM THE BUSINESS DESK

■ SUBSCRIBE TO THE DAILY BRIEF