Conexant (CNXT) - Get Report was on the move higher a day after saying it expects cash proceeds of roughly $100 million when Acquicor Technology (AQR) completes its purchase of Jazz Semiconductor.

Shares of Conexant advanced 7 cents, or 3.7%, to $1.99.

Acquicor, a company founded by Steve Wozniak and other former

Apple

(AAPL) - Get Report

executives, has agreed to acquire privately held Jazz in a transaction valued at $260 million.

Jazz was formed in 2002 as a joint venture between Conexant and the private equity firm Carlyle Group. Conexant owns 42% of Jazz, a semiconductor-wafer maker.