Cree acquires Arkansas Power Electronics Inc. (APEI)

Cree, Inc. , a silicon-carbide (SiC) power and RF products manufacturer, today announced the acquisition of APEI, a  power modules and power electronics converter maker for harsh environment applications. Combining two highly complementary innovators, the acquisition enables Cree’s Power and RF business to extend its position.

This acquisition strengthens Cree’s position for SiC power electronics, infusing the Power and RF business with additional intellectual property and applications expertise at the systems level from APEI. In 2014, the co-development of a High-Performance Silicon Carbide-based Plug-In Hybrid Electric Vehicle Battery Charger on an ARPA-E program resulted in an R&D 100 award, recognizing the 100 most innovative technology advancements of the year for APEI.

 “Extending our research and development capabilities with APEI, a leader in wide bandgap power R&D, will help us accelerate delivery of a full spectrum of SiC power modules to meet customer requirements for performance and cost.”

said Frank Plastina, executive vice president, Cree Power and RF.

“Joining forces with the market leader in silicon-carbide power gives us an opportunity to commercialize our products faster,” said Dr. Alex Lostetter, president and CEO of APEI. “This ideal combination of chip technology and packaging will give us first-mover advantage, helping us to set the industry standard for power modules.”

The APEI team, now Cree Fayetteville, Inc., will continue to be based in Fayetteville, AR., and will operate as part of Cree’s Power and RF business. Under the terms of the agreement, Cree will acquire APEI in a merger transaction.

APEI is a leader in wide band gap semiconductor based power modules and power converters. They target harsh environment applications as military, aerospace, aeronautics or specialty vehicles.