u-blox Shareholders Approve Board Elections and Delisting Amid Advent International Acquisition

Shareholders of u-blox, a global leader in positioning and short-range communication technologies, have approved all motions proposed by the Board of Directors at the Extraordinary General Meeting 2025 held in Horgen. The approvals represent a critical step in the company's transition as it moves toward completion of a public tender offer by Advent International.

In a significant leadership change, shareholders elected Claudio Simao as both member and Chairman of the Board of Directors. Ronald Ayles and Bernhard Spetsmann were also elected as board members, with all positions effective until the conclusion of the next ordinary general meeting. Additionally, Claudio Simao and Ronald Ayles were elected to serve on the company's Nomination, Compensation and Sustainability Committee. These elections are contingent 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.

The shareholder approval extends to the delisting of u-blox registered shares from the SIX Swiss Exchange, another decision subject to completion of the tender offer. The Board of Directors received authorization to implement this delisting resolution following the public tender offer's completion. This move signals a fundamental shift in the company's public market status and corporate structure.

The implications of these approvals are substantial for the global positioning and communication technology sector. u-blox provides critical technologies for automotive, industrial, and consumer markets, enabling precise positioning and wireless communication for people, vehicles, and machines worldwide. The company's transition to private ownership under Advent International could reshape competitive dynamics in the industry and potentially accelerate innovation in high-precision technologies.

For investors and market participants, the delisting represents a significant change in accessibility to u-blox shares, while the new board leadership suggests strategic shifts in corporate governance and direction. The minutes of the Extraordinary General Meeting 2025 will be available on the company's website at https://www.u-blox.com in the coming days, providing additional details about the proceedings and decisions made during the meeting.

The broader impact extends to u-blox's global operations, which span Europe, Asia, and the United States from its headquarters in Thalwil, Switzerland. As a pioneer in high-precision technologies, the company's corporate transition could influence development timelines for next-generation positioning and communication solutions across multiple industries, including automotive safety systems, industrial automation, and consumer electronics.