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Jazz Semiconductor

January 01, 1970

Jazz Semiconductor is a semiconductor wafer foundry that is a wholly owned United States subsidiary of Israel-based Tower Semiconductor. Its customers include developers of wireless, optical networking, power management, storage, and aerospace/defense applications. Headquartered in Newport Beach, California, Jazz passed through a number of acquisitions including the short-lived company Acquicor Technology, which renamed itself Jazz Technologies and then sold it two years later.

Jazz Semiconductor

Logo in 2006 before acquisitions
Company typeSubsidiary
IndustryIntegrated circuit fabrication
FoundedFebruary 2002 (2002-02)
ParentTower Semiconductor

History edit

Jazz Semiconductor Systems was founded on February 15, 2002, renamed itself Specialtysemi, Inc. later in February 2002 and to Jazz Semiconductor, Inc. in May 2002. Prior to March 12, 2002, it was Conexant's fabrication facility, as subsidiary Newport Fab, LLC. It was initially funded by Conexant and affiliates of the Carlyle Group. Shu Li was its chief executive since May 2002. RF Micro Devices invested $60 million in October 2002, and became a customer.[1] Jazz reported losses for each year of 2003, 2004, and 2005. It filed for an attempted initial public offering (IPO) several times from January 2004 through July 2006, to be listed on Nasdaq under symbol JAZZ, but failed to attract investor interest.[1][2]

Acquicor Management LLC was jointly formed by Gil Amelio, Steve Wozniak and Ellen Hancock, all of whom had worked for Apple Computer.[3] Founded in August 2005, Amelio was Acquicor's chief executive. Acquicor Technology was known as a blank-check company: it existed only to make acquisitions in unspecified areas of the technology sector, with the management partnership as its only stock-holder. It filed for an IPO of its own in February 2006, expected to raise about $142 million adopting the symbol AQR on the American Stock Exchange.[4] Although the company had to disclose that it had no revenues nor products, and companies previously led by its principals had failed, the celebrity status of the founders attracted attention.[5][6][7] The demand for the March 14 IPO caused an exercise of the over-allotment, resulting in net proceeds of $164 million.[8] One analyst said it was "faith-based investing taken to the extreme".[5]

In September 2006, Acquicor announced it would acquire Jazz for $260 million in cash.[3][9] Jazz withdrew its own registration statement.[10] To help finance the acquisition, Acquicor raised $145 million from convertible notes on December 19, 2006 and another $21.75 million on December 22, 2006.[11] Conexant made a $10 million equity investment in Jazz while waiting for the deal to close, which it did on February 16, 2007.[12]

On February 21, 2007, Acquicor changed its name to Jazz Technologies, and its symbol to JAZ.[13] In March 2007 Li resigned and Amelio became chief executive of the subsidiary company, still doing business as Jazz Semiconductor.[14]

Jazz had specialized in analog-intensive mixed-signal integrated circuit manufacturing services. On June 11, 2007, it was announced that Hancock had left, and there were no plans to replace her.[15] By the end of 2007, the company struggled to deal with the Great Recession and its debt burden, such as buying back shares from the Acquicor principals. In February 2008 it announced a loss, and shares had reduced in price by over 80% from its IPO. The company hinted it was seeking a buyer.[16][17]

In May 2008, Jazz agreed to become a subsidiary of Tower Semiconductor of Israel in a stock-for-stock merger. The value of Jazz was only about $40 million after the assumption of debt, losing much of the original value of investors.[18] Amelio retired as the deal closed on September 22, 2008.[19][20]

Jazz Technologies edit

Jazz Technologies is the parent company of its wholly owned subsidiary, Jazz Semiconductor, Inc.

On September 19, 2008, Tower Semiconductor, based in Israel, announced the completion of its merger with Jazz Technologies, Inc. As a result of this transaction, Amelio, Jazz’s chairman and chief executive officer, retired as an officer and director effective upon the closing of the merger.[21]

References edit

  1. ^ a b Jazz Semiconductor (July 12, 2006). "Prospectus". Form S-1/A. US Securities and Exchange Commission. Retrieved October 24, 2013.
  2. ^ Jazz Semiconductor (January 21, 2004). "Prospectus". Form S-1. US Securities and Exchange Commission. Retrieved October 24, 2013.
  3. ^ a b Bill Giovino (September 29, 2006). "Jazz Semiconductor Acquired by Acquicor in an Unusual Transaction". MicroController. Retrieved October 23, 2013.
  4. ^ Acquicor Technology (December 16, 2005). "Prospectus". Form S-1/A. US Securities and Exchange Commission. Retrieved October 23, 2013.
  5. ^ a b Kevin Kelleher (March 20, 2006). . The Street. Archived from the original on October 29, 2013. Retrieved October 24, 2013.
  6. ^ Reinhardt Krause (March 6, 2006). "Amelio And Wozniak Seek A "Blank Check'; Ex-Apple Execs Surface; Ellen Hancock also part of an acquisition-minded outfit doing unusual IPO". Investors Daily. from the original on October 25, 2013. Retrieved October 25, 2013.
  7. ^ Mark LaPedus (March 15, 2006). "Ex-Apple execs form 'blank check' company". EE Times. Retrieved October 25, 2013.
  8. ^ . Press release. March 21, 2006. Archived from the original on April 1, 2009. Retrieved October 23, 2013.
  9. ^ "Wozniak, Apple alums buy semiconductor company for $260M". Silicon Valley Business Journal. September 27, 2006. Retrieved September 5, 2014.
  10. ^ "Wozniak, Apple alums buy semiconductor company for $260M". Silicon Valley Business Journal. September 27, 2006. Retrieved October 23, 2013.
  11. ^ . Press release. December 22, 2006. Archived from the original on April 1, 2009. Retrieved October 23, 2013.
  12. ^ Conexant (March 20, 2007). "Prospectus". Offer to Exchange. US Securities and Exchange Commission. Retrieved October 23, 2013.
  13. ^ . Old web site. Archived from the original on April 23, 2007. Retrieved October 23, 2013.
  14. ^ . Press release. March 30, 2007. Archived from the original on April 1, 2009. Retrieved October 23, 2013.
  15. ^ Hancock resigns from Jazz
  16. ^ Eric Savitz (February 14, 2008). "Jazz Technologies: Gil Amelio's Fab Seeking A Buyer". Tech Trader Daily. Barron's. Retrieved October 25, 2013.
  17. ^ Ina Fried (March 19, 2008). "Ex-Apple trio fails to shine". CNet News. Retrieved October 25, 2013.
  18. ^ Eric Savitz (May 20, 2008). "Tower Semi to Buy Jazz, Laying a Troubled SPAC to Rest". Seeking Alpha. Retrieved October 25, 2013.
  19. ^ "Tower Semiconductor Completes Merger with Jazz Technologies". Business Wire. Press release. September 19, 2008. Retrieved October 25, 2013.
  20. ^ "Tower completes Jazz acquisition". Semiconductor Today. September 22, 2008. Retrieved October 23, 2013.
  21. ^ (PDF). Archived from the original (PDF) on 2011-07-13. Retrieved 2006-03-15.{{cite web}}: CS1 maint: archived copy as title (link) Tower Semiconductor Completes Merger with Jazz Technologies.

External links edit

  • Official website  
  • Acquicor website
  • Acquicor Purchases Jazz Semiconductor, September 2006
  • , 15 March 2006 MacMinute
  • EE Times, Ex-Apple execs form 'blank check' company, 15 March 2006
  • Edgar Online - Acquicor IPO[permanent dead link]


January 01, 1970
jazz, semiconductor, semiconductor, wafer, foundry, that, wholly, owned, united, states, subsidiary, israel, based, tower, semiconductor, customers, include, developers, wireless, optical, networking, power, management, storage, aerospace, defense, application. Jazz Semiconductor is a semiconductor wafer foundry that is a wholly owned United States subsidiary of Israel based Tower Semiconductor Its customers include developers of wireless optical networking power management storage and aerospace defense applications Headquartered in Newport Beach California Jazz passed through a number of acquisitions including the short lived company Acquicor Technology which renamed itself Jazz Technologies and then sold it two years later Jazz SemiconductorLogo in 2006 before acquisitionsCompany typeSubsidiaryIndustryIntegrated circuit fabricationFoundedFebruary 2002 2002 02 ParentTower Semiconductor Contents 1 History 2 Jazz Technologies 3 References 4 External linksHistory editJazz Semiconductor Systems was founded on February 15 2002 renamed itself Specialtysemi Inc later in February 2002 and to Jazz Semiconductor Inc in May 2002 Prior to March 12 2002 it was Conexant s fabrication facility as subsidiary Newport Fab LLC It was initially funded by Conexant and affiliates of the Carlyle Group Shu Li was its chief executive since May 2002 RF Micro Devices invested 60 million in October 2002 and became a customer 1 Jazz reported losses for each year of 2003 2004 and 2005 It filed for an attempted initial public offering IPO several times from January 2004 through July 2006 to be listed on Nasdaq under symbol JAZZ but failed to attract investor interest 1 2 Acquicor Management LLC was jointly formed by Gil Amelio Steve Wozniak and Ellen Hancock all of whom had worked for Apple Computer 3 Founded in August 2005 Amelio was Acquicor s chief executive Acquicor Technology was known as a blank check company it existed only to make acquisitions in unspecified areas of the technology sector with the management partnership as its only stock holder It filed for an IPO of its own in February 2006 expected to raise about 142 million adopting the symbol AQR on the American Stock Exchange 4 Although the company had to disclose that it had no revenues nor products and companies previously led by its principals had failed the celebrity status of the founders attracted attention 5 6 7 The demand for the March 14 IPO caused an exercise of the over allotment resulting in net proceeds of 164 million 8 One analyst said it was faith based investing taken to the extreme 5 In September 2006 Acquicor announced it would acquire Jazz for 260 million in cash 3 9 Jazz withdrew its own registration statement 10 To help finance the acquisition Acquicor raised 145 million from convertible notes on December 19 2006 and another 21 75 million on December 22 2006 11 Conexant made a 10 million equity investment in Jazz while waiting for the deal to close which it did on February 16 2007 12 On February 21 2007 Acquicor changed its name to Jazz Technologies and its symbol to JAZ 13 In March 2007 Li resigned and Amelio became chief executive of the subsidiary company still doing business as Jazz Semiconductor 14 Jazz had specialized in analog intensive mixed signal integrated circuit manufacturing services On June 11 2007 it was announced that Hancock had left and there were no plans to replace her 15 By the end of 2007 the company struggled to deal with the Great Recession and its debt burden such as buying back shares from the Acquicor principals In February 2008 it announced a loss and shares had reduced in price by over 80 from its IPO The company hinted it was seeking a buyer 16 17 In May 2008 Jazz agreed to become a subsidiary of Tower Semiconductor of Israel in a stock for stock merger The value of Jazz was only about 40 million after the assumption of debt losing much of the original value of investors 18 Amelio retired as the deal closed on September 22 2008 19 20 Jazz Technologies editJazz Technologies is the parent company of its wholly owned subsidiary Jazz Semiconductor Inc On September 19 2008 Tower Semiconductor based in Israel announced the completion of its merger with Jazz Technologies Inc As a result of this transaction Amelio Jazz s chairman and chief executive officer retired as an officer and director effective upon the closing of the merger 21 References edit a b Jazz Semiconductor July 12 2006 Prospectus Form S 1 A US Securities and Exchange Commission Retrieved October 24 2013 Jazz Semiconductor January 21 2004 Prospectus Form S 1 US Securities and Exchange Commission Retrieved October 24 2013 a b Bill Giovino September 29 2006 Jazz Semiconductor Acquired by Acquicor in an Unusual Transaction MicroController Retrieved October 23 2013 Acquicor Technology December 16 2005 Prospectus Form S 1 A US Securities and Exchange Commission Retrieved October 23 2013 a b Kevin Kelleher March 20 2006 Acquicor Tech Enjoys Apple s Halo The Street Archived from the original on October 29 2013 Retrieved October 24 2013 Reinhardt Krause March 6 2006 Amelio And Wozniak Seek A Blank Check Ex Apple Execs Surface Ellen Hancock also part of an acquisition minded outfit doing unusual IPO Investors Daily Archived from the original on October 25 2013 Retrieved October 25 2013 Mark LaPedus March 15 2006 Ex Apple execs form blank check company EE Times Retrieved October 25 2013 IPO Over Allotment Option Exercised Press release March 21 2006 Archived from the original on April 1 2009 Retrieved October 23 2013 Wozniak Apple alums buy semiconductor company for 260M Silicon Valley Business Journal September 27 2006 Retrieved September 5 2014 Wozniak Apple alums buy semiconductor company for 260M Silicon Valley Business Journal September 27 2006 Retrieved October 23 2013 Acquicor Technology Inc Closes Additional 21 75 Million Private Offering of Convertible Senior Notes Press release December 22 2006 Archived from the original on April 1 2009 Retrieved October 23 2013 Conexant March 20 2007 Prospectus Offer to Exchange US Securities and Exchange Commission Retrieved October 23 2013 Acquicor Technologies Inc Old web site Archived from the original on April 23 2007 Retrieved October 23 2013 Jazz Technologies Inc Announces Resignation of Shu Li President and Chief Executive Officer of subsidiary Jazz Semiconductor Gil Amelio to assume operating role Press release March 30 2007 Archived from the original on April 1 2009 Retrieved October 23 2013 Hancock resigns from Jazz Eric Savitz February 14 2008 Jazz Technologies Gil Amelio s Fab Seeking A Buyer Tech Trader Daily Barron s Retrieved October 25 2013 Ina Fried March 19 2008 Ex Apple trio fails to shine CNet News Retrieved October 25 2013 Eric Savitz May 20 2008 Tower Semi to Buy Jazz Laying a Troubled SPAC to Rest Seeking Alpha Retrieved October 25 2013 Tower Semiconductor Completes Merger with Jazz Technologies Business Wire Press release September 19 2008 Retrieved October 25 2013 Tower completes Jazz acquisition Semiconductor Today September 22 2008 Retrieved October 23 2013 Archived copy PDF Archived from the original PDF on 2011 07 13 Retrieved 2006 03 15 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link Tower Semiconductor Completes Merger with Jazz Technologies External links editOfficial website nbsp Acquicor website Acquicor Purchases Jazz Semiconductor September 2006 TheStreet com Acquicor Tech Enjoys Apple s Halo 20 March 2006 MacMinute Former Apple executives form new company 15 March 2006 MacMinute EE Times Ex Apple execs form blank check company 15 March 2006 Edgar Online Acquicor IPO permanent dead link Investors com Amelio And Wozniak Seek A Blank Check 3 March 2006 Retrieved from https en wikipedia org w index php title Jazz Semiconductor amp oldid 1171129042, wikipedia, wiki, book, books, library,

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