Private equity group Advent to buy U-Blox for $1.3 billion
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Private equity group Advent to buy U-Blox for $1.3 billion
Private equity group Advent International has agreed to take over Switzerland's U-Blox Holding in a cash offer worth CHF1.05 billion ($1.30 billion).
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U-Blox’s board of directors unanimously supports the transaction and recommends that shareholders accept the offer, the company said in a press release on Sunday evening. The largest single shareholder, SEO Master Fund LP, which holds around 9% of the shares, has also committed to tendering its stake.
The offer price of CHF135 per share in cash corresponds to a premium of 53% on the unaffected volume-weighted average price of the last six months up to 14 August 2025, i.e. before the first media reports on a possible transaction, according to the press release. This corresponds to a premium of 32% for the last 60 trading days.
U-Blox describes the offer as an “attractive opportunity” for shareholders, employees and customers. Advent shares the long-term vision and will accompany the company in its next growth phase.
The offer is subject to customary conditions and regulatory approvals. Closing is expected within six months. Following completion, the U-Blox shares will be delisted from the SIX Swiss Exchange.
Share price rise already on Friday afternoon
The first rumours about Advent’s interest in U-Blox surfaced on Friday afternoon, reported by the Bloomberg news agency, causing the share price to skyrocket.
Shortly afterwards, U-Blox confirmed that talks were underway with Advent about a possible takeover transaction. On Friday evening, the U-Blox share closed at CHF138.60, already higher than the takeover price that has now been communicated.
Overall, the shares have gained 80% in value this year. Nevertheless, the shares are still a long way from their all-time high. In August 2016, U-Blox shares reached a price of CHF246.40 and U-Blox had a market capitalisation of CHF1.7 billion.
At the beginning of June, the semiconductor manufacturer finalised the sale of its mobile communications business to the Irish IOT specialist Trasna. With the sale, U-Blox intends to concentrate on its core competences in the field of positioning technologies.
Translated from German with DeepL/sb
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