Magna to buy Veoneer's active safety business for US$1.525B - BNN Bloomberg

The Ontario auto parts company said Tuesday the deal adds significant engineering resources and expands its advanced driver assistance systems customer base and geographic diversification.

''We plan to accelerate innovation by building on both organizations' strengths, including customers, suppliers, technology partners and employees," Kotagiri said in a statement. Qualcomm Inc. subsequently acquired Veoneer's Arriver business from SSW Partners for an undisclosed sum. "The combination of both businesses creates durable value and accelerates an already exciting growth trajectory for Veoneer's employees, products and customers," Svanberg said

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Magna International to buy Veoneer's active safety business for US$1.525B - BNN BloombergMagna International has signed a deal to buy Veoneer's active safety business from investment firm SSW Partners for US$1.525 billion in cash.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Magna to buy Veoneer Active Safety for US$1.53 billion in bid to boost ADAS businessThe deal, expected to close by mid-2023, gives Magna access to Veoneer's suite of camera and radar systems, as well as its driver monitoring technology and domain controllers. Magna will gain about 2,200 engineers, most of which work in key systems, software and sensor development areas.
Source: AutoNewsCanada - 🏆 77. / 51 Read more »