CREE invested $83 million to 13% stake in Ronda

Lextar Electronics (Stock Code: 3698) today (27) announced by the parties by the board of directors, and the United States CREE (CREE, Inc.) (Nasdaq: CREE) long-term cooperation agreement for the blue LED grain, CREE invested $83 million (about 510 million 665 thousand and 800 yuan) investment lextar electronics to NT $thirty. Dollars (about 6.1635 yuan) holds eighty-three million shares of lextar electronics, Lunda will provide CREE Blu ray LED grains, both the pursuit of rapid growth in the LED lighting industry. In addition, lextar Electronics will also authorize the relevant patent of LED grains and the components of American CREE. The future of the United States CREE will hold about 13% stake lextar electronics, become lextar electronics lighting customers strategy.

Lextar electronics chairman and CEO Dr. Su Fengzheng said, Lunda has in small and medium-sized power backlight and LED lighting applications over the years in the field of specialized technology and stability of the sea, in addition to the United States CREE has the leading technology and industry status in the field of high power LED modules, in recent years the rapid development of lighting applications market. The CREE cooperation with the United States Lunda, Lunda will help future in the field of LED lighting the rapid growth of steady development, while the upstream grain will have a stable sea, the Lunda technology and products to enhance competitiveness are of great help. In addition, the patent licensing by the parties, the future can be shared on both sides of the research and development of technology and products, increase the competitiveness of each other.

CREE chairman and CEO Chuck Swoboda said, to feel and deepen cooperation between Taiwan Longda electronic excited, can accelerate the two sides in LED and common growth of the lighting market. The future of the United States CREE will acquire lextar electronics production of high quality power in LED grains, while the United States CREE can focus on high power LED grain development and production of its specialization, to promote differentiation. This cooperation can make CREE in the United States operating and financial flexibility, but also for the company and investors to create the greatest benefits.

Ronda said, this case has private board of directors agreed to by both parties, but still requires the Investment Commission and the shareholders will take effect and other relevant procedures agreed.

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