Magna Buys Part of PLDS

Magna is to acquire the head-up display and electronic components units of Philips & Lite-On Digital Solutions (PLDS), the joint venture company between Philips and Lite-On which focuses on the design, development, sales, marketing, customer support and related service of Optical Disc Drive (ODD) products. 

Magna is a global automotive component manufacturer and supplier for the automotive industry and has an electronics business unit that focuses on image vision systems and on machine vision systems. However, so far the company has not sold any HUD systems. With the increasing interest of the automotive world in HUDs this purchase offers Magna the opportunity to catch up with some of its competitors.

The company did not release any details on the conditions of the agreement, though approximately 60 PLDS employees will join Magna as part of the deal. – NH