Divestiture • Electrical Equipment

Smart Modular Technologies Acquires Cree - LED Products Business Unit

On October 19, 2020, Smart Modular Technologies acquired electrical equipment company Cree - LED Products Business Unit from Wolfspeed for 300M USD

Acquisition Context
  • This is Smart Modular Technologies’ 1st transaction in the Electrical Equipment sector.
  • This is Smart Modular Technologies’ largest (disclosed) transaction.
  • This is Smart Modular Technologies’ 2nd transaction in the United States.
  • This is Smart Modular Technologies’ 1st transaction in North Carolina.

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M&A Deal Summary

Date October 19, 2020
Target Cree - LED Products Business Unit
Sector Electrical Equipment
Buyer(s) Smart Modular Technologies
Sellers(s) Wolfspeed
Deal Type Divestiture
Deal Value 300M USD

Target Company

Cree - LED Products Business Unit

Durham, North Carolina, United States
Cree LED comprises a broad portfolio of highly efficient LED chips and high-performance LED components. The company has a track record of delivering best-in-class solutions through well-established distribution and sales channels.
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Buyer Overview 1

Buyer

Smart Modular Technologies

Newark, California, United States

Category Company
Founded 1988
Sector Technology Hardware
Revenue 1.5B USD (2021)
DESCRIPTION

Smart Modular Technologies is a developer and manufacturer of DRAM and Flash-based modules and subsystems for computing, communications, embedded, and defense applications. Smart Modular Technologies was founded in 1988 and is based in Newark, California.


Deal Context for Buyer #
Overall 2 of 2
Sector: Electrical Equipment 1 of 1
Type: Divestiture 2 of 2
State: North Carolina 1 of 1
Country: United States 2 of 2
Year: 2020 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-09 Artesyn Embedded Technologies - Embedded Computing Business

Tempe, Arizona, United States

Artesyn Embedded Technologies, Inc. - Embedded Computing Business is a provider of embedded computing solutions based on open standards such as ATCA®, VMEbus, PCI Express and computer-on-module, with a large portfolio of long-life-cycle products, strong supplier partnerships and long-standing customer relationships.

Buy -

Seller Profile 1

SELLER

Wolfspeed

Durham, North Carolina, United States

Category Company
Founded 1987
Sector Semiconductors
Employees4,802
Revenue 807M USD (2024)
DESCRIPTION
Entrance to Cree's corporate campus in Durham, North Carolina.
Entrance to Cree's corporate campus in Durham, North Carolina.

Wolfspeed is a provider of energy-efficient, mercury-free LED lighting. Wolfspeed markets lighting-class LEDs, LED lighting, and semiconductor products for power and radio frequency (RF) applications. Wolfspeed was formed in 1987 and is based in Durham, North Carolina.


Deal Context for Seller #
Overall 2 of 3
Sector: Electrical Equipment 2 of 2
Type: Divestiture 2 of 3
State: North Carolina 2 of 3
Country: United States 2 of 3
Year: 2020 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-15 Cree - Lighting Products Business Unit

Durham, North Carolina, United States

Cree, Inc. - Lighting Products Business Unit includes the LED lighting fixtures, lamps, and intelligent lighting control solutions business for commercial, industrial and consumer applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 Aixtron - Epitaxial Tools

Herzogenrath, Germany

Aixtron's Epitaxial Tools enable high power density and energy efficiency and will drive the next generation of semiconductor technology. Aixtron's Epitaxial Tools is based in Herzogenrath, Germany.

Buy -