Cree LED and Tomar Electronics Enter Settlement and Limited License Agreement

September 14, 2022 at 11:00 AM EDT

Cree LED, Inc. (“Cree LED”), an SGH company (Nasdaq: SGH), and Tomar Electronics, Inc. (“Tomar”) today announced that they have reached a negotiated settlement related to Tomar’s use of LED components that infringe Cree LED patents. The financial terms of the agreement are confidential. As part of the settlement, Cree LED granted Tomar a limited license to certain Cree LED patents covering LED components.

Tomar and Cree LED have a longstanding collaborative relationship that both companies value, and Tomar was unaware that the LED components at issue, which it had purchased from a third-party supplier, were infringing. Under the circumstances, the parties were pleased that they could arrive at a resolution that both addressed the infringement and enabled them to continue working together.

“As an LED lighting innovator, Cree LED holds a broad LED patent portfolio in the U.S. and abroad,” said David Peoples, vice president of marketing at Cree LED. “We have made extensive investments in research and development, quality and product innovation, and we are committed to enforcing our IP rights; and licensing those rights, when warranted, with our valued partners.”

About Tomar Electronics

Founded in Chicago in 1969 and now headquartered in Gilbert, Arizona, TOMAR Electronics, Inc. is a pioneering, family-owned and operated business providing signaling, illumination and right-of-way enhancing products in the industrial and emergency industries which serve government, public and private communities. TOMAR is committed to protecting people, property and budgets through solutions which clear the way for safer, more sustainable environments. For more information, visit https://tomar.com/.

About Cree LED

Cree LED offers one of the industry’s broadest portfolios of application-optimized LED chips and components, leading the industry in performance and reliability. Our team delivers best-in-class technology and breakthrough solutions for focused applications in high power and mid-power general lighting, specialty lighting and video screens. With more than thirty years of experience, Cree LED develops products backed by expert design assistance, superior sales support and industry-best global customer service. For more information, visit www.cree-led.com.