Veoneer
 | |
| Company type | Private |
|---|---|
| Industry | Automotive |
| Founded | 2018 |
| Headquarters | Stockholm, Sweden |
Key people | Nik Endrud, CEO |
| Products | Restraint Control Systems |
| Revenue | US$2.3 billion |
| Owner | American Industrial Partners |
Number of employees | 2,200 |
| Website | www |
Veoneer is an American Swedish provider of automotive technology based in Stockholm, Sweden. It is incorporated in Delaware.[1][2] The company is the result of a spin-off in 2018 of Autoliv's electronics and automated driving divisions.[3] In 2019, Veoneer acquired high-performance brakes maker Nissin Kogyo's 49% stake in the Veoneer-Nissin Joint Venture's US operation.[4] Veoneer's products include radars, lidars, thermal night vision cameras, vision systems and advanced driver assistance and autonomous driving software.[2] Veoneer counts all major global automakers as its customers.
The company also provides night driving assist systems, active safety sensors, mono-and stereo-vision cameras, airbag control units and crash sensors.[5]
In October 2021, Qualcomm and SSW Partners reached an agreement to buy Veoneer for $4.5 billion.[6] As part of the deal, SSW Partners would sell Veoneer's Arriver business to Qualcomm. The acquisition closed in April 2022.[7] In June 2022, Bloomberg News reported that SSW Partners had started to prepare work on divesting the remainder of Veoneer's businesses.[8] In December 2022, it was announced SSW Partners had sold Veoneer's active safety portion to the Aurora-headquartered automotive parts manufacturer, Magna International for $1.52 billion USD.[9]
See also
[edit]References
[edit]- ^ "Governance".
- ^ a b "Sweden's Veoneer to sell $500 million of bonds, equity to boost..." Reuters. 21 May 2019 – via www.reuters.com.
- ^ "Veoneer spin-off".
- ^ "2nd Quarter 2019, Financial Results" (PDF). Retrieved 2023-08-11.
- ^ "Stocks". Bloomberg News. 22 May 2023.
- ^ Soderpalm, Helena; Hu, Krystal (4 October 2021). "Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal". Reuters.
- ^ Soderpalm, Helena (24 March 2022). "Veoneer says Qualcomm deal to close next week". Reuters.
- ^ Porter, Kiel; Kirchfeld, Aaron; Philip, Siddharth Vikram (23 June 2022). "SSW Partners Prepares Auto Supplier Veoneer for Sale". Bloomberg News. Archived from the original on 18 July 2022.
- ^ "Evertiq - Magna to acquire Veoneer's active safety business". evertiq.com. Retrieved 2022-12-20.
External links
[edit]- Official website
- Historical business data for Veoneer:
- SEC filings
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