The engineering unit is based in Ottobrunn near Munich (Germany). Andreas Brand, general manager of Continental's Passive Safety and ADAS business unit said the takeover helps Continental to expand its technology edge in electronically scanning radar systems. The business unit has been operated by Magna Electronics, a subsidiary of Magna International. The acquisition includes the eleven engineers employed in the unit; they will be taken over by Continental. The move is expected to be effective July 1st.
Magna said through the sale of its radar engineering unit, the company can focus on the development of camera-based assistance technologies and systems. Terms of the takeover were not provided.