Cree Completes Acquisition of LED Lighting Fixtures, Inc.

Cree, Inc., a market leader in LED solid-state lighting, yesterday (3rd) announced that it has completed the acquisition of privately held LED Lighting Fixtures, Inc. ("LLF"). Cree's agreement to acquire LLF was announced February 8, 2008.
 
At closing, Cree issued 1,852,335 shares of common stock and paid approximately $16.45 million in cash in exchange for LLF shares. Cree also assumed outstanding LLF stock options. Additional cash consideration of up to $26.4 million may be payable over the next three years tied to new product milestones and key employee retention.

This acquisition expands Cree's market opportunity by providing direct access to the lighting market. Cree's business now encompasses LED chips, components and lighting solutions. It further enables Cree to drive retrofit solutions to convert existing lighting infrastructure to energy-efficient lighting and to accelerate the adoption of LED lighting.

"The new Cree LED Lighting Solutions team is delivering industry-leading LED lighting products and working to set the standard for 21st century energy-efficient lighting," said Chuck Swoboda, chairman and chief executive officer of Cree. "We are out to lead the LED lighting revolution and to obsolete the lightbulb."

The company plans to announce financial results for its third fiscal quarter, ending on March 30, after market close on April 22 and will provide additional information about the acquisition at that time.
Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

XLamp® XP-L Photo Red S Line LEDs Deliver High Efficiency for Horticulture Applications Revolutionizing Horticulture Lighting with Cree LED Cree LED is committed to delivering innovative lighting solutions for horticulture and agriculture,... READ MORE

For most of history, humans used flames to generate light. Eventually, they discovered that a super-heated metal element in a light bulb could produce useful illumination, only for this technology to be superseded by the LED. One common featur... READ MORE