Cree: Goodbye Lighting Products, What Does The Future Hold?

Cree has reached a deal with Ideal Industries to sell its Lighting Products business, thereby getting rid of its LED lighting fixtures, lamps and corporate lighting solutions. The reported deal tag comes in at $310 million, but involves an initial upfront cash payment of $225 million, as earn-outs of a maximum of $85 million can be achieved depending on the EBITDA performance in two years' time from now.