According to the News and Observer, Durham's Cree, which makes light-emitting diodes used in cellular phones, has purchased Spectrian's UltraRF division for about $113.5 million in cash and stock. With 140 employees based in Sunnyvale, CA, UltraRF makes power transistors that boost signals in wireless networks. Under the terms of the deal, Cree will exchange about 908,000 of its shares and $30 million in cash or additional stock for UltraRF. Officials said Cree's purchase should be completed by the end of December or early January.
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