Orange County Register

Jazz Technologies Inc., the Newport Beach-based semiconductor spinoff of Conexant Systems, says it is considering strategic alternatives.

The company announced today that it hired UBS Securities LLC to help it figure it out a way to enhance shareholder value.

Jazz, one of only two companies in Orange County that manufactures its chips here, has struggled since Acquicor Technology Inc. bought it in 2006 for $260 million. Acquicor was a blank-check company that was set up to buy technology businesses. It was formed by three former Apple Computer executives — former Apple chief executive Gilbert F. Amelio; Ellen M. Hancock, who was an executive at Apple and headed the now-defunct Exodus Communications; and Apple co-founder Steve Wozniak. After the Jazz buyout, Acquicor took the Jazz name.

Hancock stepped down as president and board member of Jazz last year after she concluded she “no longer has the time necessary to devote to a full-time role as president of Jazz Technologies.”

Despite the turmoil, the company reiterated last August its commitment to keep its manufacturing in Newport Beach.

Jazz stock, which hit a high of $5.83 April 18, 2006, closed Tuesday at $1.12.

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