u-blox Shareholders Approve Board Changes and Delisting Following 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 during the Extraordinary Annual General Meeting 2025 held in Horgen. The approvals represent a significant milestone in the company's corporate transformation following the public tender offer launched by Advent International. The shareholder decisions pave the way for u-blox's transition from a publicly traded entity to private ownership under the investment firm's control.

Key among the approved motions was the election of Claudio Simao as both member and Chairman of the Board of Directors. Ronald Ayles and Bernhard Spetsmann were also elected as board members, with their terms extending until the conclusion of the next ordinary general meeting. Additionally, shareholders approved the appointments of Claudio Simao and Ronald Ayles to the company's Nomination, Compensation and Sustainability Committee. These leadership changes are contingent upon the completion of the public tender offer initiated by Advent International through its indirect subsidiary ZI Zenith S.a r.l. earlier this year.

The shareholder approval extends to the delisting of u-blox's registered shares from the SIX Swiss Exchange, another decision that depends on the successful completion of the public tender offer. The Board of Directors received authorization to implement this delisting resolution following the finalization of the acquisition process. This move represents a fundamental shift in the company's market presence and investor accessibility, removing the stock from public trading platforms. The minutes detailing all decisions from the Extraordinary General Meeting 2025 will be made available on the company's official website at https://www.u-blox.com in the coming days, providing full transparency of the proceedings.

The comprehensive shareholder approval signals strong support for the strategic direction set by both u-blox's current leadership and Advent International. The transition to private ownership through this acquisition could provide u-blox with greater operational flexibility and long-term strategic focus without the quarterly pressures of public markets. As a company specializing in positioning and wireless communication technologies for automotive, industrial, and consumer markets, this corporate restructuring may enable more aggressive investment in research and development of high-precision technologies. The changes come at a time when demand for precise positioning and reliable wireless communication solutions continues to grow across multiple industries worldwide.