Cree Announces Patent License Agreement with Ledvance
March 22 2017 - 9:00AM
Business Wire
Ledvance joins growing group of Cree
Licensees
Cree, Inc. (Nasdaq: CREE) today announced that it signed a cross
license agreement with Ledvance, Inc. under which Cree will receive
ongoing royalty payments and a royalty-free license to Ledvance’s
patent portfolio. In exchange, Ledvance will receive a license to
Cree’s extensive portfolio of patents related to LED light bulbs
and LED luminaires. The licensed patents address various aspects of
forming an LED light including optics, heat management, LED power
and control, LED light efficiency and light color and uniformity.
Certain Cree patents that cover Cree’s networked lighting
technology (SmartCast) and color mixing technology (TrueWhite) were
excluded from the license.
“With intellectual property developed over the past 29 years,
Cree has a deep portfolio of technologies that are elemental to the
design and manufacture of high-performing LED bulbs and LED
luminaires,” stated Brad Kohn, vice president legal and general
counsel for Cree. “This recent licensing agreement with Ledvance is
yet another example that demonstrates the value of Cree’s R&D
investments, as well as the breadth and strength of Cree’s lighting
technologies.”
About Cree, Inc.
Cree is a market-leading innovator of lighting-class LEDs,
lighting products and semiconductor products for power and radio
frequency (RF) applications. Cree’s product families include LED
lighting systems and bulbs, blue and green LED chips,
high-brightness LEDs, lighting-class power LEDs, power-switching
devices and RF devices. Cree’s products are driving improvements in
applications such as general illumination, electronic signs and
signals, power supplies and inverters.
For additional product and Company information, please refer
to www.cree.com.
This press release contains forward-looking statements involving
risks and uncertainties, both known and unknown, that may cause
actual results to differ materially from those indicated in the
forward-looking statements. Actual results may differ materially
due to a number of factors, including uncertain demand for Ledvance
products using the licensed technology; and other factors discussed
in our filings with the Securities and Exchange Commission (SEC),
including our report on Form 10-K for the fiscal year ended
June 26, 2016, and subsequent reports filed with the SEC.
These forward-looking statements represent Cree’s judgment as of
the date of this release. Except as required under the U.S. federal
securities laws and the rules and regulations of the SEC, Cree
disclaims any intent or obligation to update any forward-looking
statements after the date of this release, whether as a result of
new information, future events, developments, changes in
assumptions or otherwise.
Cree® is a registered trademark of Cree, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20170322005228/en/
Cree, Inc.Claire SimmonsCorporate
Communicationsmedia@cree.com
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