York Region headquartered auto parts maker Magna International Inc. has signed a deal to purchase Veoneer Active Safety business from Swedish-based SSW Partners for $1.525 billion in cash. The combined business is projected to produce approximately $3 billion in sales in 2024.
The agreement will broaden Magna’s Advanced Driver Assistance Systems (ADAS) capabilities and improve road safety through radar, camera, ADAS electronic control units, and driver monitoring.
Full Article: yorkregion.com