Ex Apple Execs Launch Acquisition Firm

Three ex-Apple executives have launched a new, Newport Beach-based acquisition firm, and have raised $150M in an IPO. The new firm, headed by ex-Apple CEO Gilbert Amelio, Ellen M. Hancock and founder Steve Wozniak, said in its S-1 filing that it is a "blank check" company for acquiring businesses in the technology, multimedia and networking sectors. The firm is listed on the American Stock Exchange as AQR.U. Amelio serves as CEO of the firm, and Steve Wozniak as CTO. The firm also lists Harold L. Clark, former president of Ingram Micro and current chairman of Lake Forest-based OpenPro as a director. In its filing, the firm said that it believes IP-based convergence will become a major catalyst for growth opportunities in the technology, multimedia and networking sectors, that that the firm will focus its search on one or more target businesses with technologies and products in the IP convergence space. More information »