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Cree to invest in Lextar Electronics

Post:2014.09.01 Hits:571

 Cree to invest in Lextar Electronics

LED epitaxial wafer and chip maker and LED packaging service provider Lextar Electronics on August 27 announced that US-based Cree will invest US$83 million to acquire 13.32% of its stock through subscribing to 83 million new Lextar shares at NT$30 (US$1) per share via private placement. Through the stake investment, Lextar will supply mid-power blue-light LED chips for Cree on a long-term basis and obtain licenses to use Cree's LED patents, Lextar said. As Lextar has been engaged in the development and production of low- and mid-power LED chips for use in backlighting and lighting, Cree's expertise in high-power LED chips will help Lextar upgrade technology and hike competitiveness in the international LED lighting market, according to Lextar chairman and CEO David Su. The partnership with Lextar will enable Cree to focus on the development and production of high-power LED chips and have more financial and operational flexibility, Cree chairman and CEO Charles Swoboda indicated.