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Rubicon Technology amends agreement with Peregrine Semiconductor
By siliconindia
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Thursday, 04 December 2008, 20:30 IST
Franklin Park: Rubicon Technology, a provider of sapphire substrates and products to the LED, RFIC, Semiconductor, and Optical industries, has amended its sapphire supply agreement with its key SoS RFIC customer, Peregrine Semiconductor.
Under the amendment, Peregrine's obligation to purchase material from Rubicon in 2008 and the first half of 2009 is replaced by a multi-year agreement under which Peregrine has committed to source at least fifty percent of its sapphire purchases from Rubicon through 2011.
Raja Parvez, CEO of Rubicon Technology, said, "As a provider of high-quality sapphire wafers, this amendment to our agreement provides some relief to our customer as they work through their inventory and re-affirms our long-term position as a key supplier to this global market."
The Company also announced that it has participated in Peregrine's recent financing round, purchasing $2 million in Peregrine's preferred stock.