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Cree Acquiring LED Maker Cotco for $200M

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DURHAM, N.C., March 12, 2007 -- LED lighting maker Cree Inc. announced today it will acquire privately held Cotco Luminant Device Ltd. of Hong Kong for $200 million in a stock-and-cash transaction. Cree said in a statement that acquiring Cotco, a supplier of high-brightness LEDs in China, will provide the company with access to the fast-growing solid-state lighting market in that country. It will also give Cree a low-cost manufacturing platform there and allow it to offer more products in key markets for high performance LED screens, signs and solid-state lighting. Under the terms of the agreement, which has been...Read full article

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    Published: March 2007
    Glossary
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    acquisitionsagreementChinaConsumerCotcoCotco Luminant DeviceCreeCree Inc.dealHong KongindustriallightingNews & Featuresphotonicssolid-statetransactionLEDs

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