Global private equity firm Advent International has agreed to acquire U-Blox Holding, a Swiss developer of microchips and navigation software, in a transaction valued at CHF 1.05bn ($1.3bn), according to a report by Reuters.
The private equity firm will launch a cash tender offer through its subsidiary ZI Zenith, offering CHF135 per share – a 53% premium to U-Blox’s six-month undisturbed VWAP. The deal remains subject to customary conditions and regulatory approvals, with closing expected within six months.
Founded in 1997 and listed in Zurich since 2007, U-Blox develops positioning and connectivity technology for automotive, robotics, and agricultural applications. The company recently divested its cellular modules unit to sharpen its focus on navigation systems.
The announcement follows U-Blox’s improved first-half results, narrowing EBIT losses to CHF7.7m from CHF28m a year earlier.
