Cree acquires outdoor led lighting firm
Cree has announced its acquisition over outdoor led lighting specialist, Ruud Lighting, for an estimated $525million.
The acquisition will allow Cree to pursue market leadership in indoor and outdoor led lighting and increase the adoption of energy efficient led components.
"Cree is taking another bold step in leading the led lighting revolution, creating a company that has an unrivaled focus and commitment to driving led lighting adoption," said Chuck Swoboda, Cree's chairman and ceo.
Ruud will continue to be based in Racine, Wisconsin, and will operate as a subsidiary as part of Cree's lighting business.
