Wolfspeed

Cree, Inc. is an American manufacturer and marketer of semiconductors.
History.
Cree was founded in July 1987 in Durham, North Carolina. Five of the six founders – Neal Hunter, Thomas Coleman, John Edmond, Eric Hunter, John Palmour and Calvin Carter – are graduates of North Carolina State University. The company was known for lighting-class LEDs, lighting products, and products for power and radio frequency (RF) applications. Most of its products are based on silicon carbide (SiC), a mineral compound which early Cree researchers successfully synthesized in a laboratory.
In 1983, the founders – one a research assistant professor and the others student researchers – were seeking ways to leverage the properties of silicon carbide to enable semiconductors to operate at higher operating temperatures and power levels. They also knew silicon carbide could serve as the diode in light-emitting diode (LED) lighting, a light source first demonstrated in 1907 with an electrically charged diode of SiC.
The research team devised a way to grow silicon crystals in the laboratory, and in 1987 founded a company, Cree Research, Inc., to produce SiC and exploit its usage commercially in both semiconductors and lighting. The founders raised money to establish office and laboratory facilities and entered a period of steady technological advancements.
In 1989, the company introduced the world's first blue LED, which enabled the development of large, full-color video screens and billboards.
In 1991, Cree released the world's first commercial silicon carbide wafer.
In 1993, Cree launched an initial public offering.
In 1999, the company name was changed from Cree Research to Cree, Inc.
In 2011 Cree acquired Ruud Lighting, a national firm experienced in the use of LED for outdoor lighting. This expanded Cree sales channels and led to a new generation of lighting-class LED components.
In 2012 Cree announced the XLamp XT-E, which was claimed to deliver twice as much light for the same price as older LEDs.
In 2013, Cree's first consumer products, two household LED bulbs qualified for Energy Star rating by the United States Environmental Protection Agency.
In July 2016, German chip maker Infineon Technologies AG said it agreed to buy Cree's Wolfspeed business unit (RF and power electronics devices) for $850 million in cash. However, the deal was called off in February 2017 after the companies were unable to resolve regulators’ national security concerns.
In March 2018, Cree announced the acquisition of Infineon Technologies AG's RF Power Business for €345 million.
In May 2019, Cree Inc. closed on the sale of their Cree Lighting Products division to Ideal Industries Inc.
In October 2020, Cree Inc. announced the sale of their LED Business to SMART Global Holdings for up to $300 million. this lead to a January 2021 announcement of a name change to Wolfspeed, reflecting its change in emphasis from LED lighting to semiconductors.