Veoneer Says Takeover by Qualcomm, SSW Partners Will Close April 1

By Dominic Chopping

STOCKHOLM--Swedish automotive technology group Veoneer Inc. said Thursday that the previously announced deal for its acquisition by Qualcomm Inc. and SSW Partners will close April 1.

Veoneer in October said it had accepted a $4.5 billion takeover offer from chip maker Qualcomm and New York-based investment firm SSW Partners.

The company said that upon closing of the deal, the new owners will appoint Jacob Svanberg, the senior vice president of Veoneer's Lidar unit, as Veoneer's new chief executive officer.

Jan Carlson, who has been CEO of Veoneer since it was formed through a spinoff from airbag-and-safety-belt maker Autoliv Inc. in 2018, will leave his operational and board roles. He will become adviser to the board and to the CEO, the company said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 24, 2022 05:08 ET (09:08 GMT)

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