Qualcomm Incorporated and SSW Partners, a New York-based investment partnership, have reached a definitive agreement to acquire Veoneer for $37.00 per share in an all-cash transaction – representing a total equity value for Veoneer of $4.5 billion. Veoneer has terminated its prior acquisition agreement with Magna International and cancelled its special meeting that was previously scheduled to approve that agreement on October 19, 2021. 

At closing, SSW Partners will acquire 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. SSW Partners will lead the process of finding strong, long-term strategic partners.

Upon close of the transactions, Qualcomm will incorporate Arriver’s Computer Vision, Drive Policy and Driver Assistance assets into its Snapdragon Ride ADAS solution. This will augment the company’s ability to deliver an open ADAS platform for automakers and Tier-1s at scale.

SSW Partners will work with Veoneer’s management to ensure the pursuit of Veoneer’s existing business plan and to identify strong, long-term strategic partners for the Restraint Control Systems (RCS) and Active Safety businesses.

SSW Partners’ investment in Veoneer will represent its first capital commitment as a partnership since its founding at the beginning of 2021.