Magna completed its acquisition of Veoneer Active Safety from SSW Partners on June 1.
Magna says the transaction is aligned with its Go-Forward strategy of accelerating investments in high-growth areas.
The automotive technology company Veoneer has been awarded its largest Restraint Control System contract ever.
The Active Safety system is designed for collaborative driving on level 2+.
The high-definition camera monitors the vehicle’s forward path, providing information to the vehicle control system.
SSW Partners have acquired all shares in Veoneer for $37 per share in cash.
Under the theme ‘Fit-to-Drive,’ attendees will get a first-hand virtual experience of cutting-edge technologies, says the company.
The company announces it is taking action in three steps along its entire value chain.
Dr. Mary Louise Cummings joins the Biden administration as senior advisor for safety at NHTSA.
Veoneer has terminated its prior acquisition agreement with Magna International Inc.
This offer represents an 18% premium over Magna’s offer to acquire Veoneer.
Acquisition will position Magna’s ADAS business as a global leader in a fast-growing industry.