Cree, a provider of LED lighting solutions, will acquire privately held COTCO Luminant Device, headquartered in Hong Kong, in a combined stock and cash transaction valued at approximately US $200 million. The acquisition of COTCO, a supplier of high brightness LEDs in China, will provide Cree with access to this solid-state lighting market and with a manufacturing platform. Under the terms of the agreement, which has been approved by the board of directors of both companies, 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. The transaction is targeted to close by late March.