u-blox (SIX: UBXN), a global leader in positioning and short-range communication technologies, announced that its shareholders approved all motions proposed by the Board of Directors at the Extraordinary General Meeting 2025 held in Horgen. The approvals mark a significant step toward the company's privatization under Advent International, L.P.
Shareholders elected Claudio Simao as a member and Chairman of the Board of Directors. Ronald Ayles and Bernhard Spetsmann were also elected as members until the conclusion of the next ordinary general meeting. Additionally, Claudio Simao and Ronald Ayles were elected to the Nomination, Compensation and Sustainability Committee (NCSC). All elections are subject to and effective upon completion of the public tender offer launched by Advent International through its indirect subsidiary ZI Zenith S.a r.l. for all publicly held registered shares in u-blox.
In a key resolution, shareholders approved the delisting of u-blox's registered shares from the SIX Swiss Exchange, also contingent on the tender offer's completion. This move will take the company private, allowing it to focus on long-term strategic initiatives without the pressures of public market reporting. The Board of Directors has been authorized to implement the delisting following the tender offer.
The decisions underscore the shareholders' support for the acquisition by Advent International, a global private equity firm. The tender offer was announced earlier this year, and its completion will trigger the leadership changes and delisting. The minutes of the meeting will be available on u-blox's website in the coming days.
These developments are crucial for u-blox's future, as they set the stage for a new chapter under private ownership. The company, known for its high-precision positioning and short-range communication technologies for automotive, industrial, and consumer markets, expects to benefit from Advent International's resources and expertise to accelerate growth and innovation. The delisting will also reduce administrative burdens and regulatory costs associated with being a publicly traded entity.
For more information, contact u-blox Investor Relations. The original release can be viewed at newmediawire.com.
