Cree is selling its LED business for up to $300M

Cree is disclosing it is selling off its LED business for as much as $300 million.

Just over a year ago, Cree sold its LED [light emitting diode] lighting business for $310 million.

The sale of the LED manufacturing business to SMART Global Holdings is part of CEO Gregg Lowe’s mission to remake Cree since taking over as its top executive three years ago.