The Public M&A team advised Centerview Partners as a financial advisor to Qualcomm Incorporated (NASDAQ: QCOM) in connection with Qualcomm’s and SSW Partners’ definitive agreement to acquire Veoneer, Inc. (NYSE: VNE; SSE: VNE SDB) for $37 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 Inc.
At closing, SSW Partners will acquire all of 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. This transaction structure facilitates the long-term success of all Veoneer’s businesses.
Upon close of the transactions, Qualcomm will incorporate Arriver’s Computer Vision, Drive Policy and Driver Assistance assets into its leading Snapdragon Ride™ Advanced Driver Assistance Systems (ADAS) solution. This will augment Qualcomm’s ability to deliver an open and competitive ADAS platform for automakers and Tier-1s at scale.
Centerview Partners is a leading independent investment banking and advisory firm. The firm provides advice on mergers and acquisitions, financial restructurings, valuation, and capital structure to companies, institutions, and governments.
The Goodwin team was led by Stuart Cable, James Matarese, and Blake Liggio.
For more details, read the press release.