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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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