Magna digitally converges with PLDS
Acquisition strengthens auto parts maker’s electronics portfolio.
SAILAUF, Germany — Magna International Inc., a global manufacturer of automotive parts, components and systems, has acquired the head-up display and electronic components business units of Philips & Lite-On Digital Solutions (PLDS) in Wetzlar, Germany.
No financial details were released but the deal includes PLDS’s ultrasonic sensor business in Hsinchu, Taiwan.
Magna, based in Aurora, Ont., said the transaction strengthens its electronics engineering capabilities in Europe and grows its electronics portfolio to deliver a variety of connected car technologies to the market.
It says about 60 PLDS employees will join Magna.
PLDS develops products for automotive wireless charging, head-up display technology and connectivity, as well as various electro-mechanical devices.