Advent International has agreed to acquire Switzerland’s U-Blox Holding in a deal valued at about 1.05 billion Swiss francs ($1.3 billion). The transaction will be executed through Advent’s subsidiary ZI Zenith via a public tender offer for all outstanding shares. Subject to regulatory and customary approvals, the deal is expected to close within six months.
U-Blox, which develops microchips and software for automotive navigation and positioning technologies, has been reshaping its business to concentrate on growth areas. Earlier this year, the company divested its cellular module unit to sharpen its focus on navigation systems used in cars, robotics, and agricultural equipment. The Zurich-listed firm, which went public in 2007, has also narrowed its operating losses, cutting its first-half EBIT loss to 7.7 million francs from 28 million a year earlier.
The acquisition underscores private equity’s growing appetite for European technology assets, particularly in sectors tied to automation, mobility, and digital infrastructure.
Source: Reuters
