“Haptronik develops algorithms to enhance the control and feel of power systemsCutting-edge technology will strengthen Magna’s leadership in mechatronicsDeal will help Magna take power doors and liftgates to new levels of excellenceAURORA, Ontario, Oct. 25, 2018 (GLOBE NEWSWIRE) — Drivers and passengers will enjoy a more intuitive experience thanks to technology which relies on motion and the sense of touch inside and outside of the car. To continue developing these advanced technologies for the automotive market, Magna has signed a deal to acquire Haptronik GmbH, further investing in advanced motion-control software and adding to Magna’s leadership in mechatronics products.Haptronik is a technology company that specializes in software to control the motion of mechatronic products. Based in Dresden, Germany, the company develops algorithms that enhance motion control and the touch and feel of power systems such as doors and liftgates.“This acquisition is about access to the vehicle and the experience we want people to have – both today and in the future, as the new mobility ecosystem continues to evolve,” said John O’Hara, President of Mechatronics, Mirrors and Lighting. “The Haptronik team are experts in this field and will help Magna further strengthen our position as the go-to supplier for mechatronics products.”This cutting-edge technology bolsters and further differentiates Magna’s power system product offerings, specifically enhancing its SmartAccess power door experience. Beyond the effortless smooth feel of the door, the software also allows for features such as anti-slam and virtual door check.Pending standard closing conditions, the deal is expected to be finalized in the first quarter of 2019.TAGSMechatronics, power doors, power liftgates, automotive M&AINVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com, (+1) 905.726.7035MEDIA CONTACTTracy Fuerst, Global Director of Corporate Communications & PRtracy.fuerst@magna.com, (+1) 248.631.5396ABOUT MAGNAWe have more than 173,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world’s largest automotive suppliers with 339 manufacturing operations and 89 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e48a9581-ff0c-4d9c-b6bd-3c2da8d7d843
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