Kongsberg Automotive Acquires Remaining Stake in Chassis Autonomy to Tap into Growing Steer-by-Wire Market

Kongsberg Automotive ASA has decided to acquire the remaining 75% of shares in Chassis Autonomy SBA AB through its subsidiary Kongsberg Automotive AS. The acquisition aims to capture a significant share of the rapidly expanding steer-by-wire market, projected to reach 3.5 billion euros by 2035. This strategic investment follows a long-standing collaboration between the two companies. The transaction is expected to be completed this week.

Kongsberg Automotive ASA has announced the acquisition of the remaining 75% of shares in Chassis Autonomy SBA AB through its subsidiary Kongsberg Automotive AS. This strategic move aims to capture a significant share of the rapidly expanding steer-by-wire market, projected to reach EUR 3.5 billion by 2035 [1].

The acquisition follows a long-standing collaboration between the two companies and is expected to be completed this week. Chassis Autonomy, based in Trollhättan, Sweden, develops steer-by-wire road wheel actuators and holds a unique portfolio of intellectual property. The acquisition is expected to provide continuity for Chassis Autonomy’s operations and unlock new opportunities through Kongsberg’s global reach.

The most recent analyst rating on Kongsberg Automotive Holding ASA (KGAUF) stock is a Hold with a NOK1.55 price target [1]. The acquisition is likely to be seen as a positive development by investors, as it strengthens Kongsberg’s position in the growing steer-by-wire market and enhances its offerings in the electric and autonomous vehicle sectors.

Kongsberg Automotive provides cutting-edge technology to the global vehicle industry, focusing on engineering, sustainability, and innovation. Its product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products [1]. The acquisition of Chassis Autonomy aligns with Kongsberg’s strategy to expand its technology offerings and enhance its competitive position in the market.

The acquisition is expected to be completed this week, with Kongsberg Automotive ASA announcing that the transaction is on track to close as planned. The acquisition is subject to regulatory approvals and other customary closing conditions.

References:
[1] https://www.tipranks.com/news/company-announcements/kongsberg-automotive-acquires-full-ownership-of-chassis-autonomy