News Article
Cree completes ATMI GaN buy-out for $10.25m
Within two weeks of announcing its intentions, Cree has acquired ATMI’s GaN group for $10.25 million in cash.
Cree has completed its acquisition of ATMI’s GaN epitaxy and substrates business, just two weeks after announcing its intention to make the purchase (see related story).
The $10.25 million cash deal includes related intellectual property, fixed assets and inventory.
Cree’s CEO and president Chuck Swoboda said that the acquisition “could be important [in the] longer-term for lasers and microwave devices”.
Swoboda added that among the 17 US patents and additional patent applications acquired was a patent covering white LEDs and related technology that should strengthen the company’s XLamp business and its LED-based lighting business.
Cree added that the ATMI products would be marketed under the Cree brand.
