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Veoneer

From Wikipedia, the free encyclopedia

Veoneer
Company typePrivate
NYSE: VNE
IndustryAutomotive
Founded2018; 6 years ago (2018)
HeadquartersStockholm, Sweden
Key people
Nik Endrud, CEO
ProductsRestraint Control Systems
RevenueUS$2.3 billion
OwnerAmerican Industrial Partners
Number of employees
2200
Websitewww.veoneer.com
Veoneer in Canada

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

References

  1. ^ "Governance".
  2. ^ a b "Sweden's Veoneer to sell $500 million of bonds, equity to boost..." Reuters. 21 May 2019 – via www.reuters.com.
  3. ^ "Veoneer spin-off".
  4. ^ "2nd Quarter 2019, Financial Results" (PDF). Retrieved 2023-08-11.
  5. ^ "Stocks". Bloomberg News. 22 May 2023.
  6. ^ Soderpalm, Helena; Hu, Krystal (4 October 2021). "Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal". Reuters.
  7. ^ Soderpalm, Helena (24 March 2022). "Veoneer says Qualcomm deal to close next week". Reuters.
  8. ^ 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.
  9. ^ "Evertiq - Magna to acquire Veoneer's active safety business". evertiq.com. Retrieved 2022-12-20.

External links

  • Official website
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This page was last edited on 19 April 2024, at 03:37
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