IQE completes acquisition of in-house MBE epita...

Cardiff, UK, 11 June 2012: IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of advanced semiconductor wafer products and wafer services to the semiconductor industry, has completed the acquisition of the entire in-house MBE epi-wafer manufacturing unit of RFMD (Nasdaq:RFMD), a global leader in the design and manufacture of high performance RF components and compound semiconductor technologies, and has secured a long-term wafer supply agreement for exclusive provision of all of RFMD's MBE wafers and for provision of a majority of RFMD's MOCVD wafer requirements.

Dr Drew Nelson, President and CEO of IQE, said

"This landmark deal secures IQE world class epi-wafer production assets and staff, together with a long term wafer supply agreement with one of the true global leaders in the wireless market. This dealfurther strengthens IQE's  leadership position in the supply of wafers to the global wireless industry and enables IQE to rapidly build a global leadership position in the supply of wafers for the burgeoning CPV sector."

Contacts:

IQE plc
[phone]
Drew Nelson
Phil Rasmussen
Chris Meadows
        
Espirito Santo Investment Bank        
+ 44 (0) 20 7456 9191
Richard Crawley
James Bromhead

Canaccord Genuity
+ 44 (0) 20 7523 8000
Simon Bridges
Cameron Duncan
        
College Hill  
[phone]
Adrian Duffield
Kay Larsen
Rozi Morris

Note to Editors


About IQE

IQE is the leading global supplier of advanced semiconductor wafers with products that cover a diverse range of applications, supported by an innovative outsourced foundry services portfolio that allows the Group to provide a 'one stop shop' for the wafer needs of the world's leading semiconductor manufacturers.

IQE uses advanced crystal growth technology (epitaxy) to manufacture and supply bespoke semiconductor wafers 'epi-wafers' to the major chip manufacturing companies, which then use these wafers to make the chips which form the key components of virtually all high technology systems. IQE is unique in being able to supply wafers using all of the leading crystal growth technology platforms.

IQE's products are found in many leading-edge consumer, communication, computing and industrial applications, including a complete range of wafer products for the wireless industry, such as mobile handsets and wireless infrastructure, Wi-Fi, WiMAX, base stations, GPS, and satellite communications; optical communications, optical storage (CD, DVD), laser optical mouse, laser printers & photocopiers, thermal imagers, leading-edge medical products, barcode, ultra high brightness LEDs, a variety of advanced silicon based systems and high efficiency concentrator photovoltaic (CPV) solar cells.

The manufacturers of these chips are increasingly seeking to outsource wafer production to specialist foundries such as IQE in order to reduce overall wafer costs and accelerate time to market.

In February 2012, IQE made a strategic investment and exclusive wafer supply agreement with leading edge Concentrated Photovoltaic ("CPV") cell developer and manufacturer Solar Junction Corporation ("SJC"). The move marked a significant step in its strategy to become a leading global supplier of CPV wafers for the solar power markets.

IQE operates a number of global manufacturing and R&D facilities: Cardiff, Milton Keynes and Bath in the United Kingdom; Bethlehem, Pennsylvania, Somerset, New Jersey and Spokane, Washington in the USA; and Singapore. The Group also has 11 sales offices located in major economic centres worldwide.

www.iqep.com

About RFMD

RF Micro Devices, Inc. (RFMD^®) is a global leader in the design and manufacture of high-performance semiconductor components. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.

Headquartered in Greensboro, N.C., RFMD is a ISO/TS 16949-, ISO 9001-, and ISO 14001-certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD.

www.rfmd.com

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Source: IQE plc via Thomson Reuters ONE

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