Autoliv to Buy GPS Supplier

To help expand its safety business, Autoliv Inc. has signed an agreement to acquire the automotive unit of Lowell, Mass.-based M/A-Com Technology Solutions Holdings Inc. for $100 million.

The deal, which is expected to close in the third quarter, also will pay M/A-Com $15 million in consulting fees and as much as $30 million more based on the auto unit's financial performance through 2019.

M/A-Com's automotive solutions business develops and makes GPS modules, antenna and radio frequency products. It also markets a driver assistance system called Electronic Horizon that integrates navigation and GPS data to improve safety and fuel efficiency.

Autoliv says the acquisition complements its core airbag and seatbelt business and will serve as a building block for future automated driving technologies.

M/A-Com's auto unit, which employs 25 people, is forecasted to generate sales of $90 million this year. It currently accounts for about 18% of M/A-Com's overall business, which focuses on semiconductor products.