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York Region Headquartered Magna to Acquire Veoneer Active Safety Business

”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.
Car on a production line

Magna International has signed an agreement to acquire the Veoneer Active Safety business from SSW Partners for $1.525 billion in cash.

The acquisition builds on the strengths of Magna’s Advanced Driver Assistance Systems (ADAS). It positions the combined business with extensive products and capabilities to provide customers with a full suite of ADAS solutions.The acquisition adds significant engineering resources and expands Magna’s ADAS customer base and geographic diversification.