Cree Buys Ruud Lighting to Create Powerhouse in LED Lighting Market

In what may be one of the more interesting acquisitions in the lighting business this season, Cree Inc., Durham, N.C., announced that it's acquiring privately held lighting fixture manufacturer Ruud Lighting, Racine, Wis., for a net outlay worth approximately $525 million in combined cash and stock. A company release said a key benefit of the deal is Ruud's position in the market for LED outdoor lighting through its BetaLED fixture business.

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