After acquisition, Ruud Lighting rewards employees

Two days after an announcement that Ruud Lighting was being acquired for $525 million, all 750-plus employees received the largest bonuses the company had ever handed out. On Aug. 17, Cree Inc. of Durham, N.C., and Ruud jointly announced an acquisition by Cree for $525 million. They said Ruud Lighting, 9201 Washington Ave., will continue to be based here and will operate as a subsidiary of Cree's lighting business.
Cree makes light-emitting diode, or LED, elements and Ruud Lighting makes LED fixtures. Cree had been Ruud Lighting's main supplier of LEDs.