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    • Denggle > Lighting News >

    Cree Announces the Sale of Lighting Business to Ideal Industries

    Cree Announces the Sale of Lighting Business to Ideal Industries

    Source： ledinside.com 22 Mar 2019
    Cree business acquisition Lighitng lighthing Ideal Industries

    Cree is selling its lighting business to Ideal Industries, an Illinois-based electric power control and management company, to continue its strategy of becoming a more focused, powerhouse semiconductor company.

     

    Cree announced the execution of a definitive agreement to sell Cree Lighting, the lighting products business unit, which includes the LED lighting fixtures, lamps and corporate lighting solutions business for commercial, industrial and consumer applications. According to Cree, the deal is about US$310 million before tax. The company expects to receive an initial cash payment of US$225 million, subject to purchase price adjustments, and has the potential to receive a targeted earn-out payment of approximately US$85 million based on an adjusted EBITDA metric for Cree Lighting over a 12-month period beginning two years after the transaction closes.

     

    Cree Announces the Sale of Lighting Business to Ideal Industries

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    Héctor Esrawe Introduces Félix Candela's Parabolas Into Lighting Design

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