Poste Italiane buys CDP's 20% of Italy's cloud hub, heading to 65%
What's the deal? Poste ItalianeDealroom has a profile for this one. Try Dealroom → has agreed to buy the 20% stake in Polo Strategico Nazionale (PSN)Dealroom has a profile for this one. Try Dealroom → held by Cassa Depositi e PrestitiDealroom has a profile for this one. Try Dealroom → through CDP EquityDealroom has a profile for this one. Try Dealroom →, according to Milano Finanza. The contract was signed in mid-June; the share transfer is expected by year-end, when the transaction closes. The deal value was not disclosed.
What each side does. PSN runs the cloud infrastructure that hosts Italian public administration data. Poste Italiane is the country's postal and financial services group, which is expanding across strategic infrastructure.
What's the endgame? The 20% adds to the 45% of PSN that Poste will acquire through Telecom ItaliaDealroom has a profile for this one. Try Dealroom → at the end of its tender offer on the telecoms company, lifting its holding to 65%. Leonardo, currently at 25%, is said to have begun acquiring the 10% held by SogeiDealroom has a profile for this one. Try Dealroom → to reach 35%.
Why now? PSN is a flagship of Italy's PNRR recovery plan, which targets 75% of Italian administrations using cloud services by year-end. The plan has allocated €900 million for central and healthcare bodies to access PSN services and €1 billion for cloud migration of schools and municipalities.
By the numbers. PSN closed 2025 with a €14.6 million loss but positive Ebitda of €12 million, on revenue up 77% to €454 million. In its latest accounts, Sogei valued its PSN stake at €7 million and saw no need for an impairment, calling the loss consistent with the company's development phase.
The signal: The reshuffle consolidates PSN under Poste and Leonardo, tightening state-linked control of the infrastructure behind Italy's public-sector cloud migration.
Image credit: mahmoud99725
