Magna International Acquires Veoneer's Active Safety Business
June 1, 2023
Magna International agreed to acquire Veoneer's Active Safety business from SSW Partners (Veoneer) for $1.525 billion in cash; the transaction was announced December 20, 2022 and completed June 1, 2023. The acquisition combines Veoneer's Active Safety product portfolio and engineering capability with Magna's ADAS business to create a strengthened global supplier of advanced driver assistance systems and accelerate product and geographic reach.
- Buyers
- Magna International Inc.
- Targets
- Veoneer Active Safety business
- Sellers
- SSW Partners, Veoneer
- Industry
- Automotive
- Location
- Stockholm, Sweden
- Transaction Type
- Divestiture
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