Veoneer has entered into an agreement with an investment fund managed by American Industrial Partners (AIP), for the acquisition of its restraint control systems business from SSW Partners (SSW).

The transaction completes the strategy of finding the right long term homes for Veoneer’s three original lines of business: Arriver Software, now owned by Qualcomm; Active Safety, now owned by Magna International and Restraint Control Systems, to be acquired by AIP Fund VII.

AIP invests in industrial businesses including several stakes in the automotive sector.

In April 2022, SSW acquired Veoneer in an all-cash transaction worth US$4.6bn.

Qualcomm subsequently acquired Arriver from SSW.

On 1 June, 2023 Magna International completed acquisition of the active safety business.