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Cree Acquires Ruud Lighting

Cree and Ruud Lighting are the latest lighting companies to join the mergers and acquisitions activities that have characterized the lighting industry over the past several years. The announcement, that Cree was acquiring Ruud Lighting, was made on Aug. 17 and involves a stock-and-cash transfer estimated at approximately $525 million. The acquisition of Ruud Lighting gives Durham, N.C.-based Cree, principally known as an LED chip and LED lamp manufacturer, entrée into the luminaire side of the industry. The deal allows Ruud Lighting greater resources to ongoing technological developments in LEDs, and helps them to move faster in meeting market demands for LED products. More

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