2007年3月13日
Cree，Inc。LED照明领导者今天宣布了一项确定的协议，以收购私人持有的Cotco Luminant Device Ltd.（“ Cotco”），总部位于香港，合并股票和现金交易，价值约2亿美元。
在中国高光LED的领先供应商Cotco的收购将为Cree提供战略性地进入这个重要而快速增长的固态照明市场。它还将为CREE提供低成本的制造平台，并将帮助Cree利用其在LED芯片和知识产权方面的专业知识，以及其在销售和营销方面的投资，以在主要市场中提供更多增值产品以获得高性能LED屏幕，标牌和固态照明。
Under the terms of the agreement, which has been approved by the board of directors of both COTCO’s parent company, COTCO Holdings Limited (“COTCO Holdings”), and Cree, COTCO Holdings will receive $70 million in cash and 7,604,785 shares of Cree stock valued at $130 million, based on the average price over the previous twenty trading days. Additional consideration of up to $125 million is tied to the COTCO business achieving specific financial targets over the next two fiscal years. Payment of additional consideration, if any, may be made in cash, shares of Cree stock or a combination of cash and stock, at Cree’s option, subject to certain limitations. This acquisition is targeted to increase annual revenue on a consolidated basis by approximately 15% to 20% over current First Call consensus estimates in fiscal 2008, and is also targeted to increase earnings per share on a consolidated basis by approximately 5% to 10% over current First Call estimates for fiscal 2008. The transaction, which is subject to customary closing conditions, is targeted to close by late March or April 2007.
Cree董事长兼首席执行官Chuck Swoboda说：“这次收购是我们稳定固态照明革命的策略的下一步。”“我们很高兴能让科特科管理团队加入Cree家族并继续取得成功。我们期待着共同努力，扩大我们在中国的业务，并将Cree转变为真正的全球公司。”
“我们对Cotco合并到Cree感到兴奋，这将为Cotco提供Cree技术和全面的IP资源的访问。这种组合将加强科特科在固态照明供应链中的领导地位。”科特科控股主席保罗·洛说。
与收购协议有关，双方还签订了一项股东协议，根据该协议，Cotco Holdings同意它将在截止日期之前销售或转让其收到的任何CREE股票，直到截止日期后一年出售或转让多达50％的股份。对剩余股份的合同限制将在结案二周年纪念日失败。Cotco和Cotco Holdings的子公司还将在结束时签订一项长期供应协议，要求子公司以竞争性的条件从COTCO购买季度的LED灯产品，这与历史购买一致。