Advent International's $1.3B Takeover Bid for Swiss Tech Firm U-Blox

Private equity giant Advent International makes major move into Swiss tech sector with billion-dollar offer for U-Blox, receiving board and key shareholder support.

Key Takeaways

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Advent International has agreed to acquire U-Blox Holding for CHF 1.05 billion ($1.30 billion).
The offer price is CHF 135 per share.
U-Blox shares will be delisted from the SIX Swiss Exchange following the transaction.
The transaction is expected to close within six months.
U-Blox sold its mobile communications business to Trasna in June.