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Former Apple Execs Buy Wafer Foundry for $260M

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NEWPORT BEACH & IRVINE, Calif., Sept. 27, 2006 -- Apple Computer Inc. co-founder Steve Wozniak and two other former Apple executives have acquired privately held wafer foundry Jazz Semiconductor Inc. for $260 million in cash. Wozniak, former Apple CEO Gilbert F. Amelio and CTO Ellen M. Hancock made the purchase through Irvine-based Acquicor Technology Inc., an acquisition company they founded with the purpose of buying a business in the technology, multimedia and networking sectors. Acquicor raised $172.5 million through its March 2006 initial public offering, with $164 million placed in a trust account to fund such a purchase. Acquicor...Read full article

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