Cree Collaborates With Lextar To Continue Its Growth Momentum In LED Lighting

Leading LED manufacturer Cree made an investment of $83 million and entered into a supply agreement with Lextar Electronics Corporation for sapphire-based LED chips. The companies also signed a royalty bearing license agreement for certain Cree LED chip and component intellectual property. Based in Taiwan, Lextar is a vertically-integrated LED company and has a strong technology position and customer base in the mid-power backlighting LED segment. Cree, on the other hand, offers outstanding performance in the high-power LED component and lighting market. Cree believes that becoming Lextar’s strategic customer in the lighting market will enable its continued growth in LEDs and lighting.