December 17, 2024
Cree LED & Daktronics Enter Patent License Agreement
Photo credit: Cree LED
Agreement prevents patent disputes between the parties over the licensed Cree LED patents
Cree LED and Daktronics, the market-leading provider of large-screen displays and scoreboards, announced a multi-year, global patent license agreement, effective December 2024. The agreement provides Daktronics with a license to utilize Cree LED’s patented technology for LED displays, ensuring the company can continue delivering advanced solutions without patent-related disputes.
Cree LED, which operates under Penguin Solutions (formerly Smart Global Holdings) and generated $260 million in revenue in its most recent fiscal year, maintains a robust portfolio of intellectual property, including patents covering LED die and packaging technology for use in displays.
Daktronics, which reported $818 million in revenues for fiscal year 2024 ending in April, remains a dominant force in the large-scale LED display market. Known for its advanced video displays, scoreboards, and integrated control systems, Daktronics takes its name from a blend of “Dakota” and “electronics,” reflecting the company’s South Dakota roots.
While specific terms of the agreement remain confidential, the license agreement ensures there are no patent disputes between the parties based on the licensed Cree LED patents for the term of the agreement.
