U-Blox says in talks about takeover by Advent

Aug 15 (Reuters) - Switzerland's U-Blox Holding UBXN.S, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent International about being taken over by the private equity firm.

"Whether a transaction will materialise is open at this stage," the company said in a statement.

Advent declined to comment.

Bloomberg reported the talks earlier, adding a deal might value U-Blox at more than 1 billion Swiss francs ($1.2 billion).

U-Blox shares were up 19% at 1422 GMT at a three-year high, giving it a market value of about 1 billion francs.

The technology group, which went public in 2007, said last week its first-half loss before interest and tax had reduced to 7.7 million francs from a loss of 28 million a year earlier.

It cited cost cuts and a 32% jump in revenues to 123.4 million francs.

Earlier this year, the company sold a unit making cellular modules for wireless communication to focus on fast-growing navigation and positioning technology used in cars, robots and farm equipment.

Globally, dealmaking is up year-to-date, driven by a quest for growth in corporate boardrooms, falling interest rates in many countries, and the impact of a surge in AI activity.

($1 = 0.8048 Swiss francs)