Kelemenis advises Swiss-based U-blox in the acquisition of Antcor

The firm has acted for Swiss u-blox (SIX:UBXN), a leading provider of wireless and positioning semiconductors and modules for the automotive, industrial and consumer markets in the acquisition of Antcor, a Greek developer of Wi-Fi baseband intellectual property. The acquisition consists of a purchase of 100% of the shares of Antcor Advanced Network Technologies S.A. at a price of CHF 6.3 million, excluding an earn-out which offers the sellers the possibility to participate in certain future revenues of the company. The transaction gives u-blox immediate ownership of advanced Wi-Fi core technology that will enable the company to develop ruggedized communication solutions tailored to demanding environments. With headquarters in Thalwil, Switzerland, u-blox is globally present with offices in Europe, Asia and the USA (www.u-blox.com). Founded in 2004, Antcor (www.antcor.com) is a privately-held VC backed company with headquarters in Athens, Greece.