20
Dec
15:32
Magna to buy Veoneer Active Safety for $1.52 billion
Canadian auto parts manufacturer Magna International announced Tuesday it will acquire the Veoneer Active Safety business from SSW Partners for $1.52 billion in cash, Kallanish reports.
The combined business is set to generate $3 billion in sales in 2024. It builds on Magna’s advanced driver assistance systems (ADAS) strengths with broader sensor and full systems capabilities including radar, camera, ADAS ECU, and driver monitoring. Around 2,200 engineers w…
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