Bär & Karrer Advises Advent on Public
Tender Offer for u-blox Holding AG

On 26 November 2025, ZI Zenith S.à r.l., a European indirect subsidiary of funds managed and/or advised by Advent International, L.P., a leading private equity investor, completed the public tender offer for all publicly held shares of u-blox Holding AG, a global leader in positioning and wireless communication technologies. The offer price of CHF 135.00 per share in cash results in a valuation of u-blox's equity, on a fully diluted basis, of approximately CHF 1,050 million. Based on the number of shares registered with the Commercial Register of the Canton of Zurich, Advent now holds more than 98% of the shares in u-blox. Accordingly, Advent will initiate a statutory squeeze-out proceeding, and the delisting of the u-blox shares will be conducted in due course in accordance with the applicable regulatory process.

Bär & Karrer acts as Advent's lead legal advisor in this transaction. The team is co-led by Urs Kägi and Dieter Dubs and included Linus Zweifel, Matthias Tanner, Urs Stürmer, Mariel Hoch, Luca Jagmetti, Ann-Kathrin Bühler, Morris Rigling and Ronny Schmid (all Corporate/M&A), Lukas Roesler and Jorgos Boulamatsis (both Financing), Markus Wang and Christine Schweikard (both IP), Laura Widmer and Marc Paronitti (both Employment), Ruth Bloch-Riemer and Sébastien Di Natale (both Social Security), Rocco Rigozzi and Corina Moschen (both Real Estate), Susanne Schreiber, Lesia Tüchthuisen and Julian Hodel (all Tax), Mani Reinert and Martin Werner (both Antitrust) as well as Julia Stempfel (Regulatory).