Respected LED manufacturer, Cree has signed an agreement to acquire LED Lighting Fixtures, Inc., a LED fixture manufacturer that has developed LED lighting retrofit products. This collaboration gives Cree a solid foothold in the LED market, from LED chip manufacturing to packaged LED fixtures. The acquisition also puts Cree in competition with some of its existing LED customers, though industry experts say this is not uncommon.
“The combination of Cree’s lighting-class LEDs and LLF’s lighting-systems technologies should set the stage for Cree to obsolete the light bulb, a 19th century invention that wastes energy and pollutes our environment,” said Cree CEO, Chuck Swoboda.
LLF’s CEO Neal Hunter will join Cree as president of Cree LED Lighting Solutions and the remaining LLF management team will continue to work within Cree.
“Cree is as passionate as we are about moving the lighting market forward and making an impact on energy consumption into the next decade and beyond,” said Hunter. “This acquisition should make Cree a powerful force for innovation around cutting-edge LED lighting solutions that are unmatched in the industry.”