Peregrine Semiconductor's story is one of taking risks to innovate and develop new technologies, like their UltraCMOS process. In the late 1970s, the founders began working to make silicon on insulator commercially viable. Through diligent research and persevering when others gave up, they published a breakthrough paper in 1988 that served as the foundation for UltraCMOS. Peregrine was officially formed in 1990 and focused on commercializing their technology through strategic partnerships with companies like IBM and developing their first chip, which was delivered in 1995.