LEX News

Cree LED Sold for (up to) $300M Total; Only $50M Cash

Cree, Inc. (Nasdaq: CREE) today announced that the Company has entered into a definitive agreement to sell its LED Products business unit (“Cree LED”) to SMART Global Holdings, Inc. (Nasdaq: SGH) for up to $300 million, including fixed upfront and deferred payments and contingent consideration.

Under the terms of the agreement, which has been approved by the Company’s board of directors, Cree expects to receive an initial cash payment of $50 million upon closing and $125 million to be paid upon maturity of a seller note issued by SMART to Cree due August 2023. Cree also has the potential to receive an earn-out payment of up to $125 million based on the revenue and gross profit performance of Cree LED in the first full four quarters post-transaction close, also payable in the form of a three-year seller note.

Lumetta is Pleased to Introduce Task into Its Product Portfolio

Lumetta announces the addition of its new line of lighting, “Task”.  The contemporary solution to lighting fixtures offers strong ambient lighting properties and even lighting distribution, making for a more pleasant environment.

McGraw-Edison Introduces the CTN Celesteon DuraQ Driver

McGraw-Edison is proud to introduce the new DuraQ high performance driver in the Celesteon. The DuraQ high performance driver is the first of its kind in the lighting industry! Providing a robust design with superior operating life versus today's LED electronic drivers, the DuraQ driver is the go-to solution for long-life lighting needs. 

How to Keep Skies Dark at Night

Light pollution persists worldwide, but recent industry initiatives coupled with mindful architectural and lighting designers are aiming to reduce sky glow.

Lumark LAS Area Site Luminaire Now Available

Lumark is proud to introduce the new LAS Area and Site luminaire! The LAS provides automatic dusk-to-dawn area lighting for parking lots, walkways, and other outdoor areas. This high-efficiency LED luminaire delivers maximum energy savings while also lowering overall maintenance costs. The adjustable slipfitter arm mounts horizontally or vertically allowing for versatility in use and a simple installation.