Cree Invests $83M in Lextar
Cree is making an $83 million investment in Taiwan-based Lextar Electronics, and the companies will enter into a supply agreement for sapphire-based LED chips. Upon closing of the investment, Cree will own about 13 percent of Lextar.
The companies say Lextar has established a strong technology position and customer base in the mid-power backlighting LED segment, while Cree has taken market share in the high-power LED component and lighting segment.
The agreement has been approved by the boards of directors of both companies and is targeted to close in Cree’s second quarter of fiscal year 2015, subject to the approval of Lextar’s shareholders and the Taiwan Investment Committee, and other customary closing conditions.
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