Magna International acquires Veoneer Active Safety Business

Auto-parts supplier Magna International completed its acquisition of Veoneer's Active Safety business (ADAS radar, camera and integration systems, plus ~2,200 engineers) on June 1, 2023. The December 19, 2022 agreement valued the business at $1.525 billion in cash; the actual purchase price was $1,438 million net of $111 million cash acquired (Magna SEC Form 40-F, FY2023). This is the Active Safety unit only, distinct from SSW Partners' 2022 acquisition of Veoneer and Qualcomm's purchase of the Arriver unit.