U blox : SIM Technology Group and u-blox terminate the asset purchase agreement and technology assignment contract for SIMCom’s cellular module product line
May 21, 2017 at 06:30 pm EDT
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Thalwil, Switzerland - May 22, 2017 - u‑blox (SIX: UBXN), a global leader in wireless and positioning modules and chips, and SIM Technology Group Limited today announced that they will not proceed with the sale, respectively acquisition, of SIMCom cellular module product line.
Despite best efforts on the part of SIM Technology Group and u‑blox, the Parties could not close the deal as originally intended and were unable to find alternatives that worked for both whilst sustaining the intended benefits. Both Parties have therefore decided to amicably terminate the Asset Purchase Agreement and Technology Assignment Contract with all ancillary agreements.
A separate announcement will be made today by u‑blox regarding updated financial guidance for 2017.
Please download this press release in PDF format here.
About u‑blox
Swiss u‑blox (SIX:UBXN) is a global leader in wireless and positioning semiconductors and modules for the automotive, industrial and consumer markets. u‑blox solutions enable people, vehicles and machines to locate their exact position and communicate wirelessly over cellular and short range networks. With a broad portfolio of chips, modules and software solutions, u‑blox is uniquely positioned to empower OEMs to develop innovative solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, u‑blox is globally present with offices in Europe, Asia and the USA.
(www.u‑blox.com)
Find us on LinkedIn, Twitter @ublox, YouTube, Facebook and Google+
About SIM Technology Group Limited
SIM Technology Group is a global leader in mobile communication and Internet of Things, providing ODM services for worldwide mobile handsets and terminals customers as well as providing cellular modules and Internet of Things solutions. SIM Technology Group is providing specified terminals in different industrial areas, such as IOV, Police, Scanner, POS etc. Since 2015, the worldwide shipment of SIMCom cellular modules has been ranked NO. 1 based on the ABI research report. SIM Technology Group is listed on the Main Board of the HKEX (stock code: 2000.HK).
Please visit www.sim.com for more information.
For more information:
u‑blox AG
Gitte Jensen, Investor Relations Manager
Phone: +41 44 722 74 86
E‑mail: gitte.jensen@u-blox.com
SIM Technology Group Limited
Miss Wong
Phone: +852 2368 6824
E‑mail: tikia.wong@sim.com
u-blox Holding AG published this content on 22 May 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 May 2017 22:29:15 UTC.
Original documenthttps://www.u-blox.com/en/investor-news/sim-technology-group-and-u-blox-terminate-asset-purchase-agreement-and-technology
Public permalinkhttp://www.publicnow.com/view/F97C05E1A7DDC73CBED8E102ED5830096BCEB366
U Blox Holding AG is a Switzerland-based semiconductor provider. The Company is engaged in the development, manufacture and marketing of the products and services of global positioning system (GPS) products. It offers a range of GPS positioning products, including GPS receiver chipsets, GPS receiver modules, GPS receiver boards, GPS smart antennas and GPS antennas, which are in used for navigation, automatic vehicle location, security, traffic control, location based services, timing and surveying. The Company operates in two segments: GPS/wireless products, which is engaged in the development and sale of embedded GPS receivers and wireless modules; and wireless services, which is engaged in the provision of wireless communication technology services in terms of reference designs, software, in-car and Vehicle-to-Vehicle (V2V) communication systems, among others. In August 2013, the Company opened an LTE Radio Frequency (RF) design center in Cork, Ireland.
u blox : SIM Technology Group and u-blox terminate the asset purchase agreement and technology assignment contract for SIMCom’s cellular module product line
U-BLOX HOLDING AG 
