- Magna International ( NYSE: MGA ) has agreed to acquire the Veoneer Active Safety business from SSW Partners for $1.525B in cash.
- The transaction is expected to close near mid-year 2023, subject to certain regulatory approvals and other customary closing conditions.
- The acquisition expands Magna's ( MGA ) ADAS sensor and full systems capabilities and adds 2,200 engineers, including 1,800 for systems, software and sensor development.
- Veoneer Active Safety sales are projected to be ~$1.1B in 2022 and growing to ~$1.9B in 2024. The combined business is projected to generate ~$3B in sales in 2024.
For further details see:
Magna to acquire Veoneer Active Safety Business for $1.525B