MUNICH -- Continental AG says it has increased its expertise in drive assistance systems with the purchase of a small southern Germany-based radar engineering unit from Magna Electronics.
"By integrating Magna's radar engineering, we can strengthen our market position in the field of radar," Andreas Brand, Continental's executive vice president passive safety & ADAS, said in a statement.
The companies didn't reveal the purchase price for the deal, which is expected to be completed July 1. At that time the unit's 11-engineer team, which is based in Ottobrunn, near Munich, will transfer to Continental.
In the statement, Joachim Hirsch, President Magna Powertrain and Magna Electronics, added: "The sale of the radar engineering unit will allow Magna Electronics to free up resources and concentrate on the development of camera-based technologies and systems, which are one of our core competences."
Magna Powertrain and Magna Electronics are units of Magna International Inc., which ranks No. 5 on the Automotive News Europe list of the top 100 global suppliers with worldwide sales to automakers of $23.6 billion in 2010. Continental ranks No. 3 with $24.8 billion in sales last year.