Takeover Bid Swiss Company U-Blox to be Acquired for Nearly €1 Billion ($1.1 Billion)

From Hendrik Härter | Translated by AI 1 min Reading Time

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The Swiss tech company U-Blox has received a takeover bid from US investor Advent International. The management of U-Blox sees the offer as an "attractive opportunity".

The Swiss tech company U-Blox is primarily known for its navigation chips. The company has now received a takeover bid from the USA.(Image: U-Blox)
The Swiss tech company U-Blox is primarily known for its navigation chips. The company has now received a takeover bid from the USA.
(Image: U-Blox)

Private equity giant Advent International has agreed to acquire Swiss chip and software specialist U-Blox in an all-cash deal worth around 997.5 million euros (1.05 billion Swiss francs/$1.1 Billion). This purchase price is set at CHF 135 per share, which represents a 53 percent premium on U-Blox's six-month average share price prior to the takeover rumors.

For the investor, the acquisition of U-Blox is a strategic step to strengthen its portfolio in the rapidly growing market for navigation, IoT and positioning technologies. The Swiss company is known for its chips and modules, which are used in connected cars, industrial automation and smart infrastructure. This acquisition puts Advent in an advantageous position to capitalize on these key technologies.

The U-Blox Board of Directors has unanimously approved the acquisition and recommends that shareholders also approve the deal. Management and the Board of Directors defend the Advent offer as an attractive opportunity for shareholders, customers and employees, and despite the generally positive response, the acquisition remains subject to regulatory approvals and customary closing conditions, with an expected completion within the next six months. Following the transaction, U-Blox shares will be delisted from the SIX Swiss Exchange.

The company, headquartered in Thalwil (Zurich), intends to remain based in Switzerland even after the takeover. CEO Stephan Zizala promises not to undertake any further restructuring measures at the site. At the beginning of June, the semiconductor manufacturer completed the sale of its mobile communications business to the Irish IoT specialist Trasna. With the sale, the company intends to focus on its core competencies in positioning technologies. (heh)

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