Ideal Industries Completes Purchase of Cree Lighting

May 15, 2019

Cree, Inc. 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, announced on March 15, took effect May 13.

“This represents a pivotal chapter for Cree as we sharpen our focus to become a semiconductor powerhouse in silicon carbide and GaN technologies,” says 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 performance and realize greater efficiencies.”

The company will use the proceeds from the sale to accelerate the growth of Wolfspeed, its Power and RF business, and expand its semiconductor operations. The company recently announced plans to invest up to US$1 billion in the expansion of its silicon carbide capacity to meet the growing demand for silicon carbide and GaN-on-silicon-carbide technologies. The expansion includes the development of a state-of-the-art, automated 200mm silicon carbide fabrication facility and a materials mega factory at its U.S. campus headquarters in Durham, NC, allowing wide bandgap semiconductors that enable the dramatic technology shifts underway within the automotive, communications infrastructure and industrial markets.

Related Articles

Changing Scene

Design

  • Stanpro: 3 Tips to Ensure Efficient Lighting for a Hairdressing Salon

    Stanpro: 3 Tips to Ensure Efficient Lighting for a Hairdressing Salon

    Remember your last hair appointment: you’re in the waiting room. Perhaps you’re reading a book or magazine while you wait your turn. You’re watching the hairdressers as they cut, style and dye your hair. Have you ever wondered about salon lighting? Indeed, all these activities entail specific lighting requirements: hairdressers need to be able to… Read More…

  • LightForm: Unboring Project – The Flamingo, A Mid-Century Revival in Surrey, BC

    LightForm: Unboring Project – The Flamingo, A Mid-Century Revival in Surrey, BC

    Reviving a story that already exists is a compelling undertaking, especially if that story is steeped in nostalgia and reinvention. The Flamingo Project in Surrey, BC draws inspiration from the original Flamingo Hotel that once stood in the same spot. It was a mid-century modern destination that opened in 1955. Once known as a stylish… Read More…

New Products

  • Cyclone Lighting Introduces New Stretto Luminaire

    Cyclone Lighting Introduces New Stretto Luminaire

    Cyclone has announced that it has released its Stretto luminaire. Stretto pairs a clean linear aesthetic with enduring performance for demanding urban environments. Stretto’s sleek, linear shape is designed to integrate naturally into contemporary urban environments. A subtle, continuous contour line wraps the luminaire, revealing two distinct sections that seamlessly unite into a single, composed… Read More…

  • Cooper Lighting: WaveLinx LITE Contact Closure Input (CCI-L-V)

    Cooper Lighting: WaveLinx LITE Contact Closure Input (CCI-L-V)

    The WaveLinx LITE Contact Closure Input (CCI-L-V) is a WaveLinx LITE device that provides the ability to take inputs from other devices, like fire alarm panels, keyed switches, or other devices, incorporating momentary or maintain actions to allow the system to respond to demand response, alert mode, after hours occupancy or a sensor input. Read More…