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RF Micro Devices(R) to Accelerate Growth in Entry-Level Smartphone Segment Through Acquisition of Amalfi Semiconductor



RF Micro Devices(R) to Accelerate Growth in Entry-Level Smartphone Segment
Through Acquisition of Amalfi Semiconductor

GREENSBORO, N.C., Nov. 5, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices,
Inc.(Nasdaq:RFMD), a global leader in the design and manufacture of
high-performance radio frequency components, announced today a definitive
agreement to acquire Amalfi Semiconductor (Amalfi), a leading fabless
semiconductor company specializing in cost effective, high performance RF and
mixed-signal ICs for the rapidly growing entry-level smartphone market.

RFMD intends to significantly accelerate the market adoption of Amalfi's RF
CMOS and mixed-signal ICs by combining Amalfi's targeted product portfolio and
proprietary RF CMOS and mixed-signal expertise with RFMD's deep customer
relationships, broad product portfolio, extensive in-house manufacturing
scale, and robust global supply chain.

Bob Bruggeworth, president and CEO of RFMD, said, "The acquisition of Amalfi
is consistent with RFMD's strategy of matching the most appropriate process
technology to each customer's performance and cost requirements. Amalfi's
proprietary RF and mixed-signal expertise in RF CMOS are a great fit for RFMD
and a strong addition to our long-term technology strategy. RFMD gives Amalfi
the global presence, market credibility, manufacturing scale, and blue--chip
customer access to take their business to the next phase of growth."

Mark Foley, CEO and president of Amalfi, said, "The addition of Amalfi's RF
CMOS PA technology with RFMD's market leadership and significant resources is
a powerful combination. We expect the acquisition will accelerate the delivery
of new disruptive RF CMOS power amplifiers to the cost-driven entry-level
smartphone market. We are excited to be part of the RFMD team."

Under the terms of the agreement, RFMD will acquire Amalfi with cash on hand
for total consideration of approximately $47.5 million, net of cash received.
RFMD expects to achieve immediate product and cost synergies and anticipates
the transaction will be accretive to RFMD's P&L within two quarters.

Conference Call

RFMD will hold a conference call to discuss the acquisition this morning at
8:30 am ET. The conference call will be broadcast live over the Internet and
can be accessed by any interested party at http://www.rfmd.com (under
"Investors"). A telephone playback of the conference call will be available
approximately one hour after the call's completion by dialing 303-590-3030 and
entering passcode 4574423.

About RFMD

RF Micro Devices, Inc. (Nasdaq:RFMD) is a global leader in the design and
manufacture of high-performance radio frequency components and compound
semiconductor technologies. RFMD's products enable worldwide mobility, provide
enhanced connectivity and support advanced functionality in the mobile device,
wireless infrastructure, wireless local area network (WLAN or WiFi), cable
television (CATV)/broadband, Smart Energy/advanced metering infrastructure
(AMI), 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 an ISO 9001-, ISO 14001-, and
ISO/TS 16949-certified manufacturer with worldwide engineering, design, sales
and service facilities. RFMD is traded on the NASDAQ Global Select Market
under the symbol RFMD. For more information, please visit RFMD's web site at
www.rfmd.com.

The RF Micro Devices, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6436

This press release includes "forward-looking statements" within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, but are not limited to,
statements about our plans, objectives, representations and contentions and
are not historical facts and typically are identified by use of terms such as
"may," "will," "should," "could," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential," "continue" and similar words, although
some forward-looking statements are expressed differently. You should be aware
that the forward-looking statements included herein represent management's
current judgment and expectations, but our actual results, events and
performance could differ materially from those expressed or implied by
forward-looking statements. We do not intend to update any of these
forward-looking statements or publicly announce the results of any revisions
to these forward-looking statements, other than as is required under the
federal securities laws. RF Micro Devices' business is subject to numerous
risks and uncertainties, including variability in operating results, risks
associated with the impact of global macroeconomic and credit conditions on
our business and the business of our suppliers and customers, our reliance on
a few large customers for a substantial portion of our revenue, the rate of
growth and development of wireless markets, our ability to bring new products
to market, our reliance on inclusion in third party reference designs for a
portion of our revenue, our ability to manage channel partner and customer
relationships, risks associated with the operation of our wafer fabrication,
molecular beam epitaxy, assembly and test and tape and reel facilities, our
ability to complete acquisitions and integrate acquired companies, including
the risk that we may not realize expected synergies from our business
combinations, our ability to attract and retain skilled personnel and develop
leaders, variability in production yields, raw material costs and
availability, our ability to reduce costs and improve margins in response to
declining average selling prices, our ability to adjust production capacity in
a timely fashion in response to changes in demand for our products, dependence
on gallium arsenide (GaAs) for the majority of our products, dependence on
third parties, and substantial reliance on international sales and operations.
These and other risks and uncertainties, which are described in more detail in
RF Micro Devices' most recent Annual Report on Form 10-K and other reports and
statements filed with the Securities and Exchange Commission, could cause
actual results and developments to be materially different from those
expressed or implied by any of these forward-looking statements.

   RF MICRO DEVICES® and RFMD® are trademarks of RFMD, LLC. All other trade
    names, trademarks and registered trademarks are the property of their
                              respective owners.

CONTACT: RFMD
         Doug DeLieto
         VP, Investor Relations
         336-678-7088

RF Micro Devices Logo
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