Shareholders of u-blox, a global leader in positioning and short-range communication technologies, have unanimously approved all motions proposed by the Board of Directors during the Extraordinary General Meeting 2025 held in Horgen. The approvals represent a crucial milestone in the company's ongoing corporate transformation and its pending acquisition by private equity firm Advent International. The meeting resulted in the election of Claudio Simao as both member and Chairman of the Board of Directors, while Ronald Ayles and Bernhard Spetsmann were elected as additional board members. All appointments are effective until the conclusion of the next ordinary general meeting.
Furthermore, shareholders approved the election of both Claudio Simao and Ronald Ayles to serve on the company's Nomination, Compensation and Sustainability Committee. These leadership changes are contingent upon the 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 tender offer, announced earlier this year, represents a significant shift in the company's ownership structure and strategic direction. In a decisive move, shareholders also approved the delisting of u-blox registered shares from the SIX Swiss Exchange, subject to the successful completion of the public tender offer.
The Board of Directors received authorization to implement this resolution following the completion of the acquisition process. This delisting marks the end of u-blox's public trading status and transitions the company to private ownership under Advent International's control. The company confirmed that minutes from the Extraordinary General Meeting 2025 will be made available on the official u-blox website in the coming days, providing full transparency regarding the proceedings and decisions made during the meeting. u-blox maintains its position as a global technology leader serving automotive, industrial, and consumer markets with its innovative positioning and wireless communication solutions.
This comprehensive shareholder approval signals strong support for the company's strategic direction and the proposed acquisition by Advent International. The changes in board composition and the planned delisting represent fundamental shifts in u-blox's corporate governance and market positioning as it prepares for its next phase of growth under private ownership. The successful completion of these measures will significantly alter the company's operational framework and strategic flexibility in the competitive technology landscape, potentially enabling more aggressive long-term investments and strategic maneuvers without the quarterly pressure of public market expectations.
