Cree Acquires Arkansas Power Electronics Internaional (APEI)
DURHAM, NC: Silicon carbide power and RF products provider Cree, goes public about its acquisition of APEI, power module and power electronics provider. This acquisition is to re-establish Cree’s Power and RF business by enabling them to provide superior SiC power modules, giving them access to APEI’s intellectual property and applications expertise at systems level.
“Adding this expert team of innovators and portfolio of patents will enable us to further disrupt and expand the market,” says Frank Plastina, executive vice president, Cree Power and RF. “Extending our research and development capabilities with APEI, a leader in wide bandgap power R&D, will help us accelerate delivery of a full spectrum of SiC power modules to meet customer requirements for performance and cost.”
Cree had also initiated a worldwide Cross - License agreement with Epistar, for light emitting diodes (LED) chips. Under the agreement both companies are to receive license to each other’s nitride LED chip patents, and restricted rights to non-nitride LED chips patents. Throughout the lifetime of the signed term, Epistar is to compensate Cree for licensing fee and royalty payments.
Cree and Epistar both captivate a major part of LED market, and the current agreement would significantly enhance performance of LED and LED lighting products.