The company says that automakers will soon have a familiar name to source lighting products “on a global scale” – Magna International.
Magna’s acquisition of Olsa will enable it to grow the company’s lighting capabilities and allow it to design, engineer and manufacture headlamps, tail lamps and other lighting products in every key region of the world.
The transaction value on a cash- and debt-free basis is approximately $280 million.
Pending regulatory approval and other standard closing conditions, the deal is expected to be finalized before the end of 2018.
Olsa’s headquarters is in Turin, Italy, and supplies automakers with lighting products.
The company employs approximately 2,500 people and maintains manufacturing operations in Italy, Poland, Brazil, China, and Mexico.
Its 2017 sales were €242 million, and customers include the Volkswagen Group, the BMW Group, Daimler and Fiat Chrysler.
John O’Hara, president of Magna Lighting, says: “Olsa brings Magna advanced technology that will enhance our portfolio of distinctive, feature-rich lighting products.
“Lighting represents a growth area for Magna due to increasing levels of electronics integration and a desire for automakers to differentiate their vehicles through styling.”
With the acquisition of Olsa, Magna says it will have a total of 11 lighting manufacturing facilities and two engineering centers globally.