Racine, Wis.

Durham, N.C. -- Cree has acquired Ruud Lighting, a supplier of LED outdoor lighting, at an estimated net cost of approximately $525 million. The companies’ shared focus on best-in-class LED-based systems has led to thousands of LED lighting installations over the past several years, Cree said. Ruud Lighting will continue to be based in Racine, Wis., and will operate as a subsidiary as part of Cree’s lighting business.