Cree Inc. Acquires APEI - Quick Facts

(RTTNews) - Cree Inc. (CREE) announced the acquisition of Arkansas Power Electronics International, Inc., or APEI, a global leader in power modules and power electronics applications.

Combining two highly complementary innovators, the acquisition enables Cree's Power and RF business to extend its leadership position and help to accelerate the market for high-performance, best-in-class SiC power modules.

Cree noted that this acquisition strengthens its market-leading position for SiC power electronics, infusing the Power and RF business with additional intellectual property and applications expertise at the systems level from APEI.

The APEI team, now Cree Fayetteville, Inc., will continue to be based in Fayetteville, AR., and will operate as part of Cree's Power and RF business. Under the terms of the agreement, Cree will acquire APEI in a merger transaction. The transaction is not targeted to have a material impact on Cree's fiscal 2016 earnings.