© edhar yralaits dreamstime.com Components | August 27, 2014
Lextar and Cree to cooperate in LEDs
Lextar Electronics and Cree have entered into an agreement whereby Cree will make an investment in Lextar and the companies will enter into a supply agreement for sapphire-based LED chips.
As part of the agreement, Cree will invest approximately USD 83 million to purchase 83 million Lextar shares. Lextar and Cree will also enter into a long-term LED chip supply agreement, as well as an agreement for certain Cree LED chip and component intellectual property. Upon closing of the investment, Cree will own approximately 13% of Lextar, becoming Lextar’s strategic customer in lighting market. “Lextar has established a strong technology position and customer base in the mid- and low-power backlighting and lighting LED segments, while Cree has had outstanding performance in the high-power LED component and lighting markets,” said Dr. David Su, Chairman and CEO of Lextar. “We are very excited about this new cooperation with Cree. We strongly believe this new collaboration will increase the competitiveness of our products and technology, enabling both companies continued growth in the LED lighting market. Furthermore, the cross license of LED chip and component intellectual property will afford both Cree and Lextar the benefits from our product and technology development, thereby strengthening our mutual competitiveness in the global LED industry.” “We are excited to be strengthening our relationship with Lextar to enable growth in LEDs and Lighting,” stated Chuck Swoboda, Cree Chairman and CEO. “Working with Lextar to supply high quality mid-power LED chips enables Cree to focus its resources on the high performance, high-power LED chips that differentiate Cree LEDs in the market. This approach provides the operational and financial flexibility to help Cree achieve the best return on our people and invested capital.”
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