Latest news with #U-Blox
RTÉ News
11 hours ago
- Automotive
- RTÉ News
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 some 1.05 billion Swiss francs ($1.30 billion). Advent said its public tender offer for U-Blox's shares would be carried out by its indirect subsidiary ZI Zenith. The 135 Swiss francs per share offer represents a 53% premium to the undisturbed volume-weighted average share price of the last six months, Advent said in a statement with U-Blox. The tender offer is subject to terms and conditions, and regulatory approvals customary for such transactions, and is expected to be settled within the next six months, it added. U-Blox, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent. The Swiss technology group, which went public in 2007, said last week it cut its first-half loss before interest and tax to 7.7 million francs from a loss of 28 million a year earlier. Earlier this year, the firm sold a unit making cellular modules for wireless communication to focus on navigation and positioning technology used in cars, robots and farm equipment.
Yahoo
a day ago
- Business
- Yahoo
Private equity group Advent to acquire U-Blox for $1.3 billion
(Reuters) -Private equity group Advent International said on Sunday it has agreed to take over Switzerland's U-Blox Holding in a cash offer worth some 1.05 billion Swiss francs ($1.30 billion). Advent said its public tender offer for U-Blox's shares would be carried out by its indirect subsidiary ZI Zenith. The 135 Swiss francs per share offer represents a 53% premium to the undisturbed volume-weighted average share price of the last six months, Advent said in a statement with U-Blox. The tender offer is subject to terms and conditions, and regulatory approvals customary for such transactions, and is expected to be settled within the next six months, it added. U-Blox, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent. The Swiss technology group, which went public in 2007, said last week it cut its first-half loss before interest and tax to 7.7 million francs from a loss of 28 million a year earlier. Earlier this year, the firm sold a unit making cellular modules for wireless communication to focus on navigation and positioning technology used in cars, robots and farm equipment. ($1 = 0.8063 Swiss francs) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
a day ago
- Automotive
- CNBC
Private-equity group Advent to acquire Swedish chipmaker U-Blox for $1.3 billion
Private-equity group Advent International said on Sunday it has agreed to take over Switzerland's U-Blox in a cash offer worth some 1.05 billion Swiss francs ($1.30 billion). Advent said its public tender offer for U-Blox's shares would be carried out by its indirect subsidiary ZI Zenith. The 135 Swiss francs per share offer represents a 53% premium to the undisturbed volume-weighted average share price of the last six months, Advent said in a statement with U-Blox. The tender offer is subject to terms and conditions, and regulatory approvals customary for such transactions, and is expected to be settled within the next six months, it added. U-Blox, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent. The Swiss technology group, which went public in 2007, said last week it cut its first-half loss before interest and tax to 7.7 million francs from a loss of 28 million a year earlier. Earlier this year, the firm sold a unit making cellular modules for wireless communication to focus on navigation and positioning technology used in cars, robots and farm equipment.
The Star
3 days ago
- Automotive
- The Star
U-Blox says in talks about takeover by Advent
FILE PHOTO: A freeway intersection is seen in Pasadena, near Los Angeles, California, U.S., April 20, 2020. REUTERS/Lucy Nicholson/File Photo (Reuters) -Switzerland's U-Blox Holding, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent International about being taken over by the private equity firm. "Whether a transaction will materialise is open at this stage," the company said in a statement. Advent declined to comment. Bloomberg reported the talks earlier, adding a deal might value U-Blox at more than 1 billion Swiss francs ($1.2 billion). U-Blox shares were up 19% at 1422 GMT at a three-year high, giving it a market value of about 1 billion francs. The technology group, which went public in 2007, said last week its first-half loss before interest and tax had reduced to 7.7 million francs from a loss of 28 million a year earlier. It cited cost cuts and a 32% jump in revenues to 123.4 million francs. Earlier this year, the company sold a unit making cellular modules for wireless communication to focus on fast-growing navigation and positioning technology used in cars, robots and farm equipment. Globally, dealmaking is up year-to-date, driven by a quest for growth in corporate boardrooms, falling interest rates in many countries, and the impact of a surge in AI activity. ($1 = 0.8048 Swiss francs) (Reporting by Ludwig Burger and Emma-Victoria Farr in Frankfurt. Editing by Rachel More and Mark Potter)
RTÉ News
3 days ago
- Automotive
- RTÉ News
U-Blox in talks about takeover by Advent
Switzerland's U-Blox Holding, a maker of microchips and software for car navigation, said today it was in talks with Advent International about being taken over by the private equity firm. "Whether a transaction will materialise is open at this stage," the company said in a statement. American private quity company Advent declined to comment. Bloomberg reported the talks earlier, adding a deal might value U-Blox at more than 1 billion Swiss francs ($1.2 billion). U-Blox shares were up 19% at 1422 GMT at a three-year high, giving it a market value of about 1 billion francs. The technology group, which went public in 2007, said last week its first-half loss before interest and tax had reduced to 7.7 million francs from a loss of 28 million a year earlier. It cited cost cuts and a 32% jump in revenues to 123.4 million francs. Earlier this year, the company sold a unit making cellular modules for wireless communication to focus on fast-growing navigation and positioning technology used in cars, robots and farm equipment. Globally, dealmaking is up year-to-date, driven by a quest for growth in corporate boardrooms, falling interest rates in many countries, and the impact of a surge in AI activity.
