The Advent International International International Capital Group announced on Sunday that it has concluded an agreement for the acquisition of the Swiss company U-Blox Holding, via a cash supply of around 1.05 billion Swiss francs ($ 1.3 billion).
Advent specifies that its public purchase offer on U-Blox actions will be carried out through its indirect subsidiary Zenith.
The offer, at 135 Swiss francs per share, represents a premium of 53 % compared to the average price weighted by volumes over the last six months, according to a joint press release from Advent and U-Blox.
The public offer is subject to the usual conditions, in particular the obtaining of regulatory authorizations, and should be finalized in the next six months, added the press release.
Manufacturer of electronic flea and software for car navigation, U-Blox announced Friday to be in discussions with Advent.
Introduced on the stock market in 2007, the Swiss technological group said last week that it had reduced its half -yearly operating loss to 7.7 million francs, against a loss of 28 million a year earlier.
Earlier this year, U-Blox had given up a unit producing cell modules for wireless communication, in order to refocus on navigation and positioning technologies used in the automobile, robotics and agricultural equipment.
($ 1 = 0.8063 Swiss franc)
