Advent International has agreed to acquire Swiss positioning chip specialist U-blox in a deal valued at CHF1.05 billion (approx. US$1.86 billion). The transaction will be executed through Advent’s subsidiary ZI Zenith, which on August 18, 2025 launched a public tender offer for all outstanding U-blox shares.
U-blox confirmed that SEO Master Fund LP, its largest shareholder with about 9% of shares, has committed to selling its entire stake. Earlier reports from Bloomberg suggested the transaction could be valued at around CHF1 billion.
The acquisition underlines Advent’s growing appetite for European technology assets. In recent months, the private equity group has participated in deals involving UK-based scientific instruments maker Spectris and Italian digital solutions provider Tinexta.
Founded in 1997 and headquartered in Thalwil, Switzerland, U-blox designs positioning chips and modules used in automotive navigation, drones, robotics, and agricultural equipment. The company counts TSMC among its key manufacturing partners.
In early 2025, U-blox divested its loss-making mobile communication module division to concentrate resources on its profitable and fast-growing navigation and positioning business. The shift has begun to show results: in the first half of 2025, revenue surged 32% year-on-year to CHF120 million, while losses narrowed sharply to CHF7.7 million, compared with a CHF28 million deficit a year earlier.
By segment, positioning revenue rose 33% to CHF110 million, and short-range communication sales increased 24% to CHF16.7 million. Across end markets, the industrial sector contributed the largest share at CHF68.1 million (+30%), followed by automotive with CHF52.1 million (+40%). Consumer sales, however, continued their multi-year decline, falling 27% to CHF3.3 million.
Chief Executive Stephan Zizala said the company’s long-term strategy is firmly set on emerging markets such as autonomous driving and mobile robotics.
With Advent’s backing, U-blox is expected to strengthen its push into these high-growth applications and accelerate expansion across Europe and Asia.
