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Magna International will acquire the Veoneer Active Safety business from SSW Partners for $1.525 billion in cash, subject to working capital and other customary purchase price adjustments. The combined business is projected to generate approximately $3 billion in sales in 2024, positioning Magna’s ADAS business as a global leader. Combining...
Transaction aligned with Magna's Go-Forward strategy of accelerating investments in high-growth areasCombined pro forma ADAS sales projected to be approximately $3 billion in 2024Broadens Magna's ADAS
Canadian automotive parts manufacturer Magna said it plans to hire 300 by 2025 at its recently opened engineering hub in Timisoara, western Romania.The tea
To cater for the growth in ADAS demand and to build-up its engineering might, Magna Electronics is to hire around 300 new engineers in Timisoara, Romania. [...]
Seeing Machines Limited, an advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has entered an exclusive collaboration agreement with Magna International to pursue driver and occupant monitoring system business targeting the vehicle’s interior rear-view mirror. At the same time, Magna is also investing...