The acquisition allows Cree to extend its position and increase the adoption of energy-efficient LED lighting.
The acquisition creates increased access to the lighting market through expanded sales channels and operating leverage from increased economies of scale.
Through the acquisition, Cree intends to develop the next generation of industry-leading, lighting-class LED components.
Ruud Lighting will continue to be based in Wisconsin,US and will operate as a subsidiary as part of Cree’s lighting business.
Ruud Lighting, through its BetaLED product line, transforms the majority of its business to LED-based systems.
