October 8, 2021
Cree LED Sale Leads to Corporate Rebranding
The two companies involved in the sale of the Cree LED business earlier this year have each announced new company names and rebranding.
In March 2021, Cree Inc. sold the Cree LED business to SMART Global Holdings, Inc. The transaction included the business unit related to LED components, materials and modules. Cree Lighting – the fixtures and lamps business – had previously been sold to Ideal Industries in 2019.
Cree, Inc. is now Wolfspeed, Inc.
With the sale of its LED business, Cree, Inc. had exited lighting completely to focus on its Wolfspeed business and markets related to Silicon Carbide technology and production. Consequently Cree, Inc. has announced this week that they have changed their corporate name to Wolfspeed, Inc.
The company formerly known as Cree, Inc. (Nasdaq: CREE) will now trade on the New York Stock Exchange under the ticker symbol WOLF.
SMART Global Holdings is now SGH
Cree LED’s new parent company, SMART Global Holdings, Inc. (Nasdaq: SGH) has also announced a rebrand, changing its company name and identity to SGH, Inc. to “better symbolize its role in the SGH family of companies.”
In the most recently reported quarter Cree LED generated revenues of $102 million which was 23% of SGH’s total sales.
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