Cree покупает LED Lighting Fixtures (LLF) за $77 млн.


Компания LLF разрабатывает осветительные приборы и сопутствующие продукты на основе XLamp LED от Cree и собственной запатентованной [[технологии смешения цветов]] [англ.]

In a move to expand its LED business, Cree Inc. has signed a definitive agreement to acquire privately-held LED Lighting Fixtures Inc. (LLF).

The deal involves a cash and stock transaction valued at approximately $77 million, plus up to an additional $26.4 million over a three-year period.

With this acquisition, Cree’s business will encompass LED chips, components and lighting solutions. LLF develops LED lighting and retrofit products. The products are based on the combination of Cree’s lighting-class XLamp LEDs and LLF’s patented color-mixing technology.

The acquisition will expand Cree’s market opportunity by providing direct access to the lighting market. It will enable Cree to drive retrofit solutions to convert existing lighting infrastructure to energy-efficient lighting and to accelerate the adoption of LED lighting.

»The combination of Cree’s lighting-class LEDs and LLF’s lighting-systems technologies should set the stage for Cree to obsolete the light bulb, a 19th century invention that wastes energy and pollutes our environment,» said Chuck Swoboda, chief executive officer of Cree, in a statement.

Under the terms, LLF will be renamed Cree LED Lighting Solutions. Neal Hunter, chairman and chief executive of LLF and Cree’s co-founder, will rejoin Cree as president of Cree LED Lighting Solutions. The remainder of the LLF management team will continue in their roles within the organization.

Cree will acquire LLF for approximately $77 million, which is comprised of a combination of cash and stock, to be determined at closing.

For the stock portion, the number of shares will be based on the average Cree closing share price over the last twenty trading days, which is $28.32 per share. Cree has also agreed to pay up to $26.4 million of additional consideration tied over the next three calendar years to new product milestones and key-employee retention.

The transaction is targeted to close in early March 2008. Providing the transaction closes at that time, Cree targets that this acquisition will add approximately $1 million to its consolidated revenue and reduce earnings per share by approximately $0.01 for its third fiscal quarter.

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