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Cree Closes on the Sale of Cree Lighting to IDEAL INDUSTRIES, Inc.

DURHAM, N.C., May 13, 2019 — Cree, Inc. (Nasdaq: CREE) announced today that it 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, which was previously announced on March 15, has closed and is effective today. “This represents a pivotal chapter for Cree as we sharpen our focus to become a semiconductor powerhouse in silicon carbide and GaN technologies,” said Gregg Lowe, CEO of Cree.”Cree’s technologies are helping to power major transitions in...
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