# Saipem and Subsea7 sign binding merger agreement to create Saipem7

Saipem and Subsea7 signed a binding merger agreement to combine into Saipem7, a global energy services company with about EUR 21 billion revenue and EUR 43 billion combined backlog. Completion is expected in the second half of 2026.

- Type: Acquisition
- Announced: 2025-07-24
- Where: Milan, Italy
- Status: announced
- Products: offshore energy services, subsea engineering, vessels

## Companies

- [Saipem](https://endata.com/companies/1847.md) (acquirer)
- [Subsea7](https://endata.com/companies/5729.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/de/news-release/2025/07/23/3120694/0/en/subsea7-and-saipem-announce-signing-of-the-merger-agreement.html), 2025-07-23: "Saipem and Subsea7 announce that they have entered into a binding merger agreement, on terms and conditions in line with what previously communicated."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.