Cree Buying Hong Kong-Based LED Manufacturer COTCO

Company purchased COTCO for $200 million.

Cree Inc. said Monday it acquired Hong Kong-based COTCO Luminant Device Ltd. for $200 million.

The acquisition will give Cree access to the fast-growing solid-state lighting market in China and provide a low-cost manufacturing platform.

The deal is expected to close in late March or April 2007.

Cree produces semiconductors and devices to increase energy performance and efficiency of solid-state lighting, power and communications products.

COTCO is involved with LED technology in Asia.

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