(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
U-Blox Engages in Acquisition Talks with Advent International
U-Blox's Potential Acquisition by Advent
(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.
Company Performance and Financials
"Whether a transaction will materialise is open at this stage," the company said in a statement.
Market Trends Influencing Dealmaking
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)
