Auto systems giant Magna acquires autonomous shuttle startup Optimus Ride

Magna, one of the world’s largest producers of automotive components and systems, has acquired autonomous shuttle startup Optimus Ride for an undisclosed amount.

Magna says the agreement has resulted in the company adding more than 120 employees of Optimus Ride to its books.

Optimus Ride is a provider of autonomous vehicle and mobility solutions located in Boston.

Magna says the acquisition of the startup enhances Magna’s capabilities in the field of advanced driver assistance systems (ADAS).

John O’Hara, president of Magna Electronics, says: “Growing our engineering bench strength in sensing hardware and software helps accelerate our path forward in a rapidly growing ADAS market.”

The contributions expected from the Optimus Ride employees will be valuable as Magna builds on its strengths and position as a global ADAS provider with comprehensive capabilities.

The team remains in Boston’s Seaport district, establishing a Boston-based engineering center and presence for Magna in a community rich in engineering talent, leading academic institutions and robotics.

O’Hara adds: “As advancements in autonomy continue, we saw an opportunity to bring in additional expertise to support current programs as well as future customer needs. We are happy to welcome the Optimus Ride employees to the Magna family.”