Once upon a time, there was an LED and lighting company called Cree. As much as any LED provider, Cree innovated. It was known for advances in brightness, in efficiency, and for an impressive collection of patents.
Then one day a Bay Area engineering “solutions” outfit with a 32-year history of going in and out of public ownership as a computer-memory products firm, and which had recently entered the high-performance computing services business, acquired the Cree group that made LED chips.
The strains of the LED business had become such that Durham, NC-based
Cree Inc. agreed in October 2020 to sell its Cree LED unit to Milpitas, CA-based SGH (previously Smart Global Holdings) for around $300 million. The sale closed last March.
It was Cree Inc.’s second big move out of LED illumination, as it had previously sold its LED lighting and bulb division, Cree Lighting, to Sycamore, IL-based Ideal Industries.............The company is moving toward what Adams calls a “fab-lite” model, outsourcing much of its LED production.