Private equity titan Advent International has clinched a decisive victory in its $1.3 billion acquisition battle for Swiss semiconductor maker U-blox Holding AG, after securing control of 67.55% of the company’s shares, the firm announced Wednesday.
The result signals a clear success for Advent’s 1.03 billion Swiss franc ($1.3 billion) tender offer — a bold move in Europe’s red-hot chip sector. The firm offered 135 francs per share in August, betting big on the explosive demand for wireless and automotive semiconductor technology.
With 64.64% of shareholders having already tendered their stakes — combined with prior commitments — Advent crossed the crucial 66.67% threshold required for its public takeover under Swiss law.
Countdown Begins for Holdout Shareholders
The private equity firm is now giving remaining investors until October 29 to tender their shares, a final window before Advent moves to consolidate full control.
If the firm reaches 90% ownership, it will have the legal right to initiate a “squeeze-out” — forcing the sale of any remaining shares, possibly under less favorable terms. Should it amass over 98%, Advent plans to delist U-blox from the SIX Swiss Exchange, a move that would take the semiconductor company fully private.
The transaction, Advent said, is expected to close by the end of 2025, marking another major stride in its expansion into high-growth tech and semiconductor markets.
