In exchange, Ledvance (a spin-off from Osram) will receive a license to Cree’s 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 colour and uniformity.
Certain Cree patents that cover Cree’s networked lighting technology (SmartCast) and colour 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.”
Ledvance focuses on lamps, smart home products and luminaires for professionals and consumers.
On March 3rd 2017, the company was sold to a Chinese consortium consisting of the investor IDG Capital Partners (IDG), the Chinese lighting company MLS Co., Ltd. (MLS) and the financial investor Yiwu State-Owned Assets Operation Center (Yiwu).