The company was originally founded in 1879, as Pirelli Cavi e Sistemi. Indirectly controlled by The Goldman Sachs Group Inc., the company signed an agreement in 2005 to purchase the Cables and Systems division of Pirelli & C. S.p.A. On June 1, 2005, Prysmian Srl signed an agreement to purchase the Energy Cables and Systems and Telecom Cables and Systems activities of Pirelli & C. S.p.A. The transaction was completed on July 28, 2005, after regulatory approval by the relevant antitrust authorities.
On January 16, 2007 Prysmian Srl was transformed into a stock corporation called Prysmian SpA and quoted in the FTSE Mib index of the Milan stock exchange.
On 22 November 2010 Prysmian announced its intention of making a public mixed exchange and cash offer for the shares of Draka, a Dutch cable manufacturer and one of the world's top cable makers. The offer was launched on 5 January 2011 and concluded successfully on 8 February 2011.
- "Prysmian announces intention to launch recommended public offer for Draka, to create a global leading player in the energy and telecom cable industry" (Press release). Prysmian. 22 November 2010. Retrieved 5 February 2011.
- "Prysmian and Draka cable deal takes on No.1 Nexans". Reuters. 22 November 2010. Retrieved 5 February 2011.