Magna completed the acquisition of the auto safety business of Veoneer from SSW Partners for $1.5bn.

Magna, a mobility technology company, completed the acquisition of the auto safety business of Veoneer from SSW Partners, a private equity firm, for $1.5bn. "Adding experienced talent and complementary capabilities to our strong foundation in active safety is core to our strategy of bringing more horsepower to this growing market. This strategic move enables us to provide even more options and advanced solutions to a broader range of customers. We look forward to the opportunities ahead as we continue to innovate and advance mobility for everyone and everything," Swamy Kotagiri, Magna CEO.