Jazz seeks 'strategic alternatives'

Mark LaPedus, EE Times
(02/13/2008 10:35 AM EST)
 
SAN JOSE, Calif. -- Is Jazz Technologies Inc. the first victim in the foundry shakeout in 2008? It appears so, as the company appears to be up for sale.

Foundry specialist Jazz (Newport Beach, Calif.) said that it has initiated a review of ''strategic alternatives to enhance stockholder value.'' To assist the company, the board retained UBS Securities LLC as its financial adviser.

In a conference call with analysts, the company dropped hints that it would entertain a ''merger.'' In other words, Jazz appears to be on the block.

There can be no assurance that any corporate action will result from the company's review of strategic alternatives, according to Jazz.