May 17 (Bloomberg) -- U-blox AG, a Swiss maker of positioning-system chips, rose to the highest price in more than two years after agreeing to work with Intel Corp. to make smaller 3G modems.
The stock rose as much as 2.5 percent to 55 Swiss francs, the highest intraday price since Nov. 2, 2010. U-blox traded 1.9 percent higher at 54.65 francs as of 9:45 a.m. in Zurich, with 54 percent more than the three-month average daily volume traded within less than an hour.
Intel and U-blox aim to sell a small 3G-only module that’s about the size of a quarter, Thalwil, Switzerland-based U-blox and Santa Clara, California-based Intel said yesterday in a statement after the Swiss stock market closed.
“Integrating the 3G power amplifier in the transceiver delivers the smallest possible size and lowest number of components, enabling new applications of 3G in machine-to-machine applications,” Horst Pratsch, head of product line modules at Intel, said in the statement.
The device is the “perfect combination” for the North American market, Nikolaos Papadopoulos, head of that region for U-blox, said in the statement.
U-blox’s market value is 345 million francs ($357 million).
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