Private-equity giant Advent International announced Sunday that it will acquire Switzerland’s U-Blox in a cash offer valued at 1.05 billion Swiss francs ($1.3 billion).
The deal will be executed through Advent’s indirect subsidiary, ZI Zenith, at a price of 135 francs per share. This represents a 53% premium over U-Blox’s six-month average share price, according to a joint statement from both companies.
The tender offer remains subject to regulatory approvals and other customary conditions, with settlement expected within six months.
U-Blox, which develops microchips and software for navigation and positioning, confirmed last week it had entered talks with Advent. The company went public in 2007 and has recently undergone restructuring to sharpen its focus. Earlier this year, it sold its cellular modules unit, shifting fully toward navigation technologies used in vehicles, robotics, and agricultural equipment.
Financially, U-Blox reported a significant improvement in its first-half performance, cutting its operating loss before interest and tax to 7.7 million francs, compared with a loss of 28 million a year earlier.
The acquisition underscores Advent’s interest in advanced semiconductor and mobility technologies at a time when demand for automotive and robotics navigation solutions continues to grow.