u-blox welcomes Spectrum Entrepreneurial Ownership as Anchor Shareholder

THALWIL, SWITZERLAND / ACCESSWIRE / November 15, 2023 / u-blox (SIX:UBXN), a global leader in wireless and positioning technologies, through its Board of Directors and Executive Committee welcomes Spectrum Entrepreneurial Ownership (SEO) as long-term anchor shareholder. SEO started building their stake some time ago and yesterday crossed the 5% reporting threshold. This was also due to the acquisition of treasury shares held by u-blox. As a result, SEO is now the company's largest shareholder.

André Müller, Chairman of the Board of Directors of u-blox, commented: "A long-term committed, anchor shareholder is important for the stable development of u-blox. In addition, we appreciate the exchange with the professional SEO team."

Fabian Rauch, Co-Founder and Managing Partner of Spectrum Entrepreneurial Ownership, added: "u-blox is an excellently positioned company with a lot of potential for development and value creation. We have great confidence in the management team and look forward to accompanying the company on its journey in the coming years."

u-blox envisages to propose for election a representative of SEO for an additional seat in the Board of Directors at the 2024 Annual General Meeting.

About u-blox

u-blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA. (www.u-blox.com)

u-blox media contact:

Natacha Seitz
Senior Manager PR and Content Marketing
Mobile +41 76 436 0788
natacha.seitz@u-blox.com

SOURCE: u-blox AG