SYCAMORE, Ill., March 18 (Bernama-GLOBE NEWSWIRE) — IDEAL INDUSTRIES, INC. today announced the acquisition of Cree Lighting, which includes the LED lighting fixtures, lamps and intelligent lighting control solutions business for commercial, industrial and consumer applications of Cree, Inc. (CREE – NASDAQ). Cree announced the pending change in ownership in a release earlier this morning. IDEAL also acquires the rights to use and operate under the Cree Lighting™ brand.
Cree Lighting will become a separate operating division of IDEAL and will continue to be led by current management. The transaction is expected to close within the second quarter of 2019.
