SMART Global to acquire the LED Business of Cree for c. $300m.

SMART Global, a designer and manufacturer of electronic products focused on memory, computing and storage technology, agreed to acquire the LED Business of Cree, a developer and manufacturer of lightning products, for c. $300m, including fixed upfront and deferred payments and contingent consideration. “The addition of Cree LED significantly advances our growth and diversification strategy. We see a meaningful opportunity to expand our business into specialty lighting and continue to drive value for our customers, employees, and shareholders. We are excited about this transformational transaction and look forward to welcoming the Cree LED team to the SMART family,” Mark Adams, SMART Global President & CEO.