Qualcomm Buying Veoneer's Computer Vision to Boost ADAS

Qualcomm and investment firm SSW Partners agreed to buy Veoneer in a transaction valued at $4.5 billion, after Veoneer scuttled its previous acquisition agreement with Magna. Veoneer, an automotive tech company, canceled an Oct. 19 meeting previously scheduled to approve a purchase agreement by Magna. At closing, SSW Partners will acquire Veoneer’s outstanding stock and then sell the Arriver business to Qualcomm, while retaining Veoneer’s Tier-1 supplier businesses, said the buyers Monday. Qualcomm will incorporate Arriver's computer vision, drive policy and driver assistance assets into its Snapdragon Ride advanced driver assistance unit to help it deliver an ADAS platform for carmakers and Tier 1s, it said. Magna waived its right to submit a revised proposal after the Veoneer board decided the Qualcomm-SSW offer was a “superior proposal,” they said. The deal is expected to close next year.