Murata to Acquire Peregrine Semiconductor for $12.50 Per Share in Cash

Acquisition enhances Murata’s position as a world’s leading provider of RF system solutions

KYOTO, Japan and SAN DIEGO—August 22, 2014 – Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd., (TSE/OSE 6981) and Peregrine Semiconductor Corporation (Peregrine) (NASDAQ: PSMI) today announced that they have entered into a definitive agreement under which Murata will acquire all outstanding shares of Peregrine not owned by Murata, for $12.50 per share in cash, or a total transaction value of $471 million ($465 million excluding Murata’s existing holding). Peregrine is the founder of RF SOI (silicon on insulator) and pioneer of advanced Radio Frequency (RF) solutions and is a leading provider of RF front-end (RFFE) solutions for mobile and analog applications. Upon closing of the transaction, Peregrine will become part of Murata’s strategy to expand its core business. Peregrine will become a wholly owned subsidiary of Murata and continue with its current business model of solving the world’s toughest RF challenges.

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