The German automotive supplier said the acquisition of the unit, which has its operations in Ottobrunn near Munich, will enhance its portfolio competence and leading edge in radar sensing systems.
Ralf Cramer, president of Continental's chassis & safety division, said he considered driving assistance systems "a key technology" when it comes to predictive driving safety. "We are convinced that innovative technologies will allow us to one day drive a car without any accidents, in all vehicle categories and markets of this world," he said in a press release.
Magna said it was selling the unit to free up resources and concentrate on the development of camera-based technologies and systems.
Continental and Magna are both among the world's biggest automotive suppliers.