u-blox Holding AG (UBXN.SW) announced that it has entered into a binding transaction agreement with ZI Zenith S.à r.l., a European indirect subsidiary of funds managed and/or advised by private equity investor Advent International, L.P. As per the agreement, ZI Zenith will launch a public tender offer to acquire all publicly held registered shares of u-blox at a price of 135.00 Swiss francs per share in cash. The offer values u-blox's equity, on a fully diluted basis, at approximately 1.050 billion francs.
The offer represents a 53% premium to the undisturbed volume-weighted average share price of the last 6 months until August 14, 2025, and a 32% premium to the undisturbed volume-weighted average share price of the last 60 trading days of u-blox shares until August 14, 2025.
u-blox's Board recommended that shareholders accept the offer, supported by an independent fairness opinion. In addition, u-blox's largest individual shareholder, SEO Master Fund LP, holding approximately 9% of the outstanding shares, has committed to tender all of its shares.
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