Zurich: Private equity group Advent International announced on Sunday its agreement to acquire Switzerland's U-Blox Holding through a cash offer valued at approximately 1.05 billion Swiss francs ($1.30 billion).
According to Radio Television Brunei, Advent's public tender offer for U-Blox's shares will be executed by its indirect subsidiary ZI Zenith. The offer of 135 Swiss francs per share represents a 53% premium over the undisturbed volume-weighted average share price of the last six months, as stated by Advent in a joint statement with U-Blox.