Valeo and Raytheon have finalised an agreement to create Valeo Raytheon Systems. The joint venture will develop and market new automotive systems based on advanced sensing technologies, including vehicle blind spot detection, backup assist and collision warning systems.  Valeo says the company will employ jointly staffed teams, working on the design, development and marketing of new automotive radar applications. They will be assigned to the company from existing Valeo and Raytheon operations and be located both in Europe and North America.