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Cree, Inc. to sell LED Business to SMART Global Holdings, Inc. for up to $300 Million

DURHAM, N.C.--(BUSINESS WIRE)--Cree, Inc. (Nasdaq: CREE) today announced that the Company has entered into a definitive agreement to sell its LED Products business unit (“Cree LED”) to SMART Global Holdings, Inc. (Nasdaq: SGH) for up to $300 million, including fixed upfront and deferred payments and contingent consideration.