Former Apple Execs Buy Chip Company

| News

Gil Amelio, Ellen Hancock and Steve Wozniak formed Acquicor with the intent to buy a technology company, and at last they have found one: Jazz Semiconductor. According to the Orange County Business Journal, the deal will cost Acquicor US$260 million. So far, it has raised $173 million, and will pay the difference with funding from Wachovia Corp.

Jazz Semiconductor is a spin-off from Conexant systems, a company that former Apple CEO Gil Amelio ran before it was part of Rockwell International.

Ellen Hancock was Appleis chief technology officer for Mr. Amelio, and Steve Wozniak co-founded Apple Computer along with Steve Jobs.

3:22 PM EST: Updated article to fix spelling errors.

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