SSW Partners, an investment partnership, has acquired Veoneer for $37.00 per share in a transaction with a total equity value of ~$4.6 billion. SSW Partners expects to sell Veoneer’s Arriver business to Qualcomm.
Veoneer design, develop, and manufactures software, hardware, and services for occupant protection, advanced driving assistance services, and collaborative and automated driving to OEMs globally. The firm operates in the automotive technology industry. SSW Partners invests in businesses and collaborates with partners to create enduring value for all stakeholders. Qualcomm is a wireless technology firm and the driving force behind the development, launch, and expansion of 5G.
Centerview Partners LLC and Evercore Group LLC acted as financial advisors to Qualcomm and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel. Davis Polk & Wardwell acted as legal counsel to SSW Partners. Morgan Stanley and Rothschild & Co. acted as financial advisors to Veoneer, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel.