RF Micro Devices (RFMD), manufacture of high performance radio systems and solutions for applications that drive mobile communications, announced pending merger of Jazz Semiconductor with a wholly owned subsidiary of Acquicor Technology, RFMD expects to sell its equity interest in Jazz Semiconductor for an aggregate cash consideration of approximately $24-$27 million.
Shu Li, president and CEO of Jazz Semiconductor, said, "Jazz Semiconductor has enjoyed an exceptional relationship with RFMD. We look forward to the continued evolution of this relationship as RFMD launches new highly integrated mixed signal products built on Jazz silicon and as we continue our development efforts in advanced RF silicon semiconductor processes."
Bill Pratt, co-founder and CTO of RFMD, stated, "RFMD and Jazz have worked together since 2002 developing silicon process technologies targeted for next generation mobile devices. RFMD's next generation single chip EDGE transceiver, which we expect will ramp at Jazz in the first half of calendar year 2007, utilizes a specialized CMOS process jointly developed between the two companies."
