Advent Completes Acquisition of u-blox

Advent International, through its subsidiary Zenith, has finalized its acquisition of u-blox Holding AG, a leader in positioning and communication technologies. The deal follows all necessary regulatory approvals and includes a payment of CHF 135 per share to u-blox shareholders. This marks the beginning of a strategic partnership aimed at strengthening u-blox's market presence and accelerating its growth.

u-blox, a Swiss company known for its connectivity solutions, is expected to benefit from Advent's global network and industrial expertise. The new co-CEOs, Andreas Thiel and Camila Japur, emphasize the partnership’s potential to drive innovation and market success.

Advent, a prominent private equity investor, plans to conduct a statutory squeeze-out to gain full control over u-blox, which will result in the delisting of its shares from the Swiss Exchange. This acquisition aligns with Advent's history of fostering growth and innovation in industrial tech companies worldwide.