Wednesday, September 27, 2006

Conexant Pockets $100M In Jazz Semi Merger

Newport Beach-based Conexant is reporting that it will receive approximately $100M in cash from its 42 percent ownership of Jazz Semiconductor, due to the company's merger with Acquicor. Acquicor and Jazz Semicondutor said yesterday that the companies would merge in a transaction worth $260M. Jazz was spun out of Conexant in March 2002. Conexant said that the proceeds woudl significantly strengthen the firm's balance sheet and provide it with improved liquidity.

---