IDEAL Industries has acquired Cree Lighting
This includes Cree's SmartCast Intelligence Platform which combines intelligent luminaires, IoT and apps.
March 21, 2019
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IDEAL INDUSTRIES has acquired Cree Lighting, which includes the LED lighting fixtures, lamps and intelligent lighting control solutions business for commercial, industrial and consumer applications. This includes Cree’s SmartCast Intelligence Platform which combines intelligent luminaires, IoT and apps.
Operating under the Cree Lighting brand, the company will become a separate operating division of IDEAL—a family-owned, 103-year-old company with deep ties to the electrical industry. Cree Lighting will become IDEAL’s 20th branded operating unit.
“We believe the global commercial lighting market is nearing a transformational phase,” said Jim James, chairman and CEO of IDEAL, in a company release announcing the acquisition. “Building owners, architects and engineers clearly want large-scale solutions that are smart, sustainable and human. We expect that with our support and expertise, Cree Lighting will thrive throughout these changing market conditions,” added James.