Qualcomm Acquires Veoneer

San Diego-based Qualcomm and New York investor SSW Partners said this morning that they are acquiring Veoneer, a developer of advanced driving systems that is based in Stockholm. The two said they will pay $37.00 per share in cash for Veoneer, giving the transaction a total equity value of $4.5 billion. According to the companies, the deal comes as a result of Veoneer terminating a prior acquisition agreement with Magna International. The companies said that, at closing, SSW Partners will acquire all of the outstanding capital stock of Veoneer, shortly after which it will sell the Arriver business to Qualcomm and retain Veoneer's Tier-1 supplier businesses. Qualcomm's interest is in Arriver's Computer Vision, Drive Policy and Driver Assistance business, which it said it will incorporate into its own Snapdragon Ride Advanced Driver Assistance Systems (ADAS) solution.