Peregrine Semiconductor Corp., a supplier of high-performance RF CMOS and mixed-signal communications ICs, and MagnaChip Semiconductor Ltd., an Asian-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications, announced that the final qualification phase has begun in the process technology transfer of Peregrine’s UltraCMOS™ SOS (Silicon-On-Sapphire) technology to MagnaChip’s Cheongju wafer manufacturing facility.

Peregrine and MagnaChip have been actively transferring the UltraCMOS process technology since mid-2007. Several Peregrine products have now successfully passed validation testing and are now entering the final phase of qualification. Qualification is expected to be complete by the end of third quarter 2008.

“Peregrine is making substantial gains in market share of high-performance RFICs, especially in the high-throw-count antenna switch opportunity in GSM/WCDMA handsets,” said Jim Cable, CEO of Peregrine Semiconductor Corp. “In order to satisfy the demands of these high-volume, highly visible customers, we designed the ideal mix of suppliers and developed long-term strategic relationships. Fortifying our supply chain, this agreement provides significant capacity for growth. By securing MagnaChip — among the top foundries in the world — as a manufacturing resource, our customers will be assured of the supply and availability of Peregrine’s products and technology."

“Peregrine’s yield and performance standards for UltraCMOS products are very high,” stated Mark Miscione, vice president of manufacturing at Peregrine Semiconductor. “The speed at which MagnaChip was able to accomplish this technology transfer and the resulting performance of the components have been excellent.”

“MagnaChip’s semiconductor manufacturing services are targeted to customers who require differentiated, specialty analog and mixed-signal process technologies. With this joint technology development, MagnaChip and Peregrine have entered into a long-term strategic relationship that will enable Peregrine to support their rapid growth and allow us to develop unique manufacturing expertise,” said Channy Lee, executive vice president and general manager of MagnaChip’s Semiconductor Manufacturing Services Division.

Sang Park, Chairman and CEO of MagnaChip, commented, “Our goal is to build solid, strategic relationships with strong foundry customers, serving high-growth markets. With its revolutionary UltraCMOS SOS process and high-performance RFIC products, Peregrine exemplifies this type of customer.”