updated 12:40 pm EDT, Wed September 27, 2006
Acquicor acquires Jazz
Acquicor Technology -- an equity firm headed by three former Apple executives, including Apple co-founder Steve Wozniak -- today announced that it has acquired foundry provider Jazz Semiconductor for $260 million in cash. The three former Apple execs leading Acquicor include Gilbert Amelio, Ellen Hancock, and Steve "Woz" Wozniak. Acquicor -- also known as the "blank check" equity firm -- intends to focus on acquisitions in the technology sector, rather than manufacturing or selling products. Jazz Semiconductor is to become a subsidiary of Acquicor once the merger completes, and because Acquicor is a publicly traded company, Jazz Semiconductor will cease pursuit of its initial public offering, withdrawing its registration statement filed with the U.S. Securities and Exchange Commission, according to eeTimes online.
Amelio will maintain his role as CEO and chairman of Acquicor, while Hancock plans to remain chief operating officer and president of Acquicor. Steve Wozniak will continue to serve as chief technology officer of the equity firm. Shu Li, president and CEO of Jazz Semiconductor since 2002, will continue in his role as well, according to the report. Amelio was decidedly positive about the acquisition.
"Jazz is poised to take advantage of growth opportunities for innovative specialty foundry services," he said.