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Technology / AI and automation

Former Apple executives float new company

The Newport Beach, California-based company’s main attraction is that it was formed by former Apple CEO Gil Amelio, former CTO Ellen Hancock, and Apple founder Steve Wozniak.

To Apple devotees, this is reason to steer clear of the company’s stock as Amelio presided over the company at a low point before he was ousted after Steve Jobs returned to the company and has since presided over it renaissance. Hancock, whose technical abilities did not impress Jobs, resigned on the same day as Amelio. Steve Wozniak is an Apple legend and designed the Apple I and II, but the 55-year-old will have to prove his ability to spot winners in today’s fast-moving markets.

The company’s prospectus contains little but generalizations on the state of the market. We believe IP-based convergence will become a major catalyst for growth opportunities in the technology, multimedia and networking industries and will lead to the development of new, agile and integrated applications, products and services, it says. As a result, many companies will need experienced leadership and growth capital in order to make their businesses responsive to these market trends. We believe that this will afford us an opportunity to lend our management skills and technology expertise to the task of growing these businesses.

Acqicor says it does not yet have any acquisition targets but believes that once word of the IPO gets around private equity and venture capital funds, public and private companies, business brokers, investment bankers, attorneys and accountants will come knocking on their door with potential candidates.

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CBR Staff Writer

CBR Online legacy content.