Cree, Inc. Invests $11.3 Million in Xemod Incorporated
Source: Cree
Durham, NC. and Santa Clara, CA. Cree, Inc. (Nasdaq: CREE), the world leader in the development and manufacture of semiconductor materials and devices made from silicon carbide (SiC), and Xemod Incorporated, a privately-held developer and manufacturer of radio frequency (RF) power amplifier components for the wireless communications and networking markets, announced today that Cree has made an $11.3 million equity investment in Xemod. The companies also announced the signing of a development agreement directed to SiC-based RF devices for use in power amplifier components.
"The equity investment from Cree will allow us to continue to develop and expand our very successful existing product lines, focused on silicon-based components for the wireless network market," said Joe Johnson, President of Xemod Incorporated. "The relationship with Cree will enable Xemod to begin early development on a new generation of products based on SiC."
Xemod offers integrated modules that allow an RF equipment designer to easily develop a complete solution for single- or multi-carrier linear power amplifiers. Xemod and Cree anticipate that the combination of Xemod s module technology and Cree s SiC-based RF power MESFET devices may enable new module products that further reduce the complexity and cost of manufacturing linear power amplifiers.
Neal Hunter, Cree s Chairman and CEO stated, "We are pleased to partner with Xemod, whose modular system has introduced a significant design improvement that can deliver substantial cost savings for the user. We believe SiC-based devices offer the power amplifier market significant advantages over competing materials, including a smaller chip design and the ability to operate at frequencies above 2 GHz."
Xemod Incorporated, headquartered in Santa Clara, California, with operations in Tempe, Arizona, is a developer and manufacturer of RF power amplifier components for the wireless communications and networking markets. The products are semiconductor-based and incorporate a combination of proprietary and standard technologies. Xemod markets its products to a wide range of OEMs in the cellular and wireless industry. For more information on Xemod, visit http://www.xemod.com.
North Carolina-based Cree, Inc. develops and manufactures semiconductor materials and devices based on silicon carbide (SiC), gallium nitride (GaN) and related compounds. The company s products include blue and green LEDs, RF power transistors for use in wireless infrastructure applications, SiC crystals used in the production of unique gemstones and SiC wafers sold for use in research and development. Cree has new product initiatives based on its experience in SiC and GaN-based semiconductors, including blue laser diodes for optical storage applications, high frequency microwave devices for radar and other communications systems, and power devices for power conditioning and switching. For more information on Cree, visit http://www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the possibility that Cree may not succeed in developing improved devices and manufacturing efficiencies as contemplated by the development agreement; that the devices may not offer the anticipated benefits for use in module products; that the anticipated markets and demand for the devices may be adversely affected by development of new product technologies; and other factors discussed in Cree s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 25, 2000.
Contact: Fran Barsky of Cree, Inc. Tel: 919-313-5397 Fax: 919-313-5452 fran_barsky@cree.com or Richard Clark of Xemod Incorporated Tel: 408-748-7360 Fax: 408-748-7366 rclark@xemod.com
Fran Barsky of Cree, Inc.
Tel: 919-313-5397
Fax: 919-313-5452
fran_barsky@cree.com
or
Richard Clark of Xemod Incorporated
Tel: 408-748-7360
Fax: 408-748-7366
rclark@xemod.com
E-mail: rclark@xemod.com
Web site: http://www.cree.com
