Cree, Inc. today announced that it signed a cross license agreement with Ledvance, Inc. under which Cree will receive ongoing royalty payments and a royalty-free license to Ledvance’s patent portfolio. In exchange, Ledvance will receive a license to Cree’s extensive portfolio of patents related to LED light bulbs and LED luminaires.

Ledvance has been a legislatively independent subsidiary of Osram since July 2016, and now offers a portfolio of needs-based LED luminaires for professional use for all common applications. Electrical contractors find the energy-efficient luminaires with the “Ledvance” brand exclusively in the electrical wholesale sector. The products feature very good cost-benefit ratios, especially simple mounting, concise designs and durability.