Cree Closes on the Sale of Cree Lighting to IDEAL INDUSTRIES, Inc.
Cree, Inc. (CREE)
Last cree, inc. earnings: 4/29 04:01 pm
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US:NASDAQ Investor Relations:
investor.cree.com/investor-relations
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Source: Business Wire
DURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (Nasdaq: CREE) announced today that it has completed the sale of its Lighting Products business unit (“Cree Lighting”) to IDEAL INDUSTRIES, Inc. The transaction includes the LED lighting fixtures, lamps and corporate lighting solutions business for commercial, industrial and consumer applications. The transaction, which was previously announced on March 15, has closed and is effective today. “This represents a pivotal chapter for Cree as we sharpen our focus to become a semiconductor powerhouse in silicon carbide and GaN technologies,” said Gregg Lowe, CEO of Cree. “Cree’s technologies are helping to power major transitions in our economy, whether it’s the automotive industry’s transition to electric vehicles or the telecommunications sector’s move to faster 5G networks. Our leadership in silicon carbide and GaN positions us well to help customers improve perfor
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