Cree $200 million acquisition of Hongkong Cotco, Chinese LED shortcut to open up into the market

Announced the final agreement has been signed Cree days ago, to $200 million in cash to acquire privately held Hongkong Cotco lighting equipment Co. ltd.. Through the acquisition of LED supplier Cotco, Cree access to China's important and rapidly growing solid state lighting market. Cree chairman and chief executive Chuck Swoboda said: "this acquisition is the strategic steps we start the solid-state lighting market revolution." And Cotco Holdings acquisition agreement, signed an agreement not to sell or transfer the temporary Cree stake, for a period of one year. The full period, up to 50% Cotco Holdings can sell or transfer of shares.