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3D cars on a road showing technology

York Region Headquartered Magna International to buy Veoneer Active Safety division for $1.5 billion

“This acquisition is consistent with our Go-Forward strategy to accelerate investment in high-growth areas, strengthens our ability to deliver systems solutions to meet customer needs, and positions Magna as a leading full-service ADAS provider,'' said Magna CEO Swamy Kotagiri.
3D cars on a road showing technology

York Region headquartered auto parts maker Magna International Inc. has signed a deal to purchase Veoneer Active Safety business from Swedish-based SSW Partners for $1.525 billion in cash. The combined business is projected to produce approximately $3 billion in sales in 2024.

The agreement will broaden Magna’s Advanced Driver Assistance Systems (ADAS) capabilities and improve road safety through radar, camera, ADAS electronic control units, and driver monitoring. 

Full Article: yorkregion.com