Smart choices in Cree LED deal
Mark Adams knows a good deal. That, you might say, is the business model of Smart Global Holdings, a collection of specialty companies more reminiscent of past conglomerates such as GEC and GE.
Today’ conglomerates have also been getting focussed. The Danaher group for example spun off its test an dindustrial automation companies such as Tektronix and Fluke into a separate subsidiary called Fortive that then split again into Vontier. Adams though begs to differ. Smart Holdings has a global, diversified customer base of over 250 customers includes some of the most well-recognized names in the technology industry.
“I’m not sure I would agree conglomerates are going out of style,” he said after agreeing to acquire the LED business of Cree. The deal is worth $300m but the initial payment is just $15m and brings Smart its first semiconductor company.
在2020年8月底加入Smart Holdings之前，Adams曾担任Lumileds的首席执行官和Memory Maker Micron Technology的总裁，以及Memory Card Maker Lexar Media的首席运营官兼创意实验室销售和营销副总裁。
“We leverage what we do well,” said Adams. “Our mission is to scale and grow our company and find great returns and we do this by running companies really well and scale our existing portfolios and find companies that fit our mold – that are really good companies that have the potential to perform better.”
“我们寻找周围的事物如何操作做伴奏any, that can be from manufacturing, IT, supply chain, there’s a number of criteria. We looked at Cree and it matches.”
他说：“我们的业务是独一无二的。”他指出企鹅计算和智能内存模块是示例（见下文）。“即使我们的物联网嵌入了无线业务，这些也不是商品业务。”
下一步：为什么领导？
但是乍一看，作为商品业务似乎并不合适。
“Certainly LED is another horizonal technology, but if you look at what Cree does, they play in the high power LED business. It’s not a mainstream consumer lighting business, they sell into emergency vehicles, architecture, retail lighting. That’s why they perform better than other LED companies so in this space they are a specialty vendor.”
Cree已经将照明器卖掉了，并将灯泡的业务（Cree Lighting）带到了理想的行业。
“我认为在这里垂直集成游戏并不重要。他们必须找到需要特殊效果，高可靠性，不同颜色的客户，没有一个垂直公司解决这些问题。”
他说，这笔交易更多地是关于团队的。亚当斯说，这是开始Cree的业务，并且团队被阻止了。
“ Cree LED可用的原因之一，Greg Lowe对RF制作了非常战略的枢纽，容量有限。他们在北卡罗来纳州有一个SIC（硅碳化物）的晶圆厂，每次分配给RF的晶圆，他们都会获得更多的利润和更多的回报，因此这是一项对LED业务不起作用的资产。”他说。
“他们希望激励我们尽可能快地移动，并希望确保Cree Led做得很好 - 这是创办公司的传统业务。”
“The team led by Claude has a desire to prove themselves again, and they have the ability to grow with the supply agreements as we increase our capacity and they were held back by the growth of Wolfspeed,” he added.
The technology is also changing.
“他们正从碳化硅为领导和蓝宝石moving from North Carolina to outsourced partners,” said Adams. “We have a supply agreement from North Carolina that is very attractive. It’ll be good margins for Smart,” he said. “By the end of the Q1 29 percent of the business will be with outsourced partner in Asia primarily on 6in wafers and that will continue for the 18 month transition period.”
“我们是唯一的纯铸造厂模型将发挥我们的优势 - 我不必担心它的能力。”
SMART Modular Technologies is probably the best known subsidiary of the group.
Founded in 1988, SMART Modular Technologies makes memory modules, solid state storage products and hybrid solutions which are critical to electronic devices and are available in standard, custom and ruggedized, high performance, high capacity applications for global OEMS.
In July 2019, Smart Modular Technologies acquired the Embedded Computing Business from Artesyn Embedded Technologies, and also has a high reliability subsidiary and SMART Wireless Computing, formerly Inforce Computing.
2018年6月以8500万美元的价格收购了企鹅计算，并创建了一个新的业务部门，Smart Specialty Comperute＆Storage Solutions（SCSS），将扩展到人工智能（AI）和机器学习（ML）的专业计算平台，即高级建模和高性能计算（HPC）。
该小组还有其他部分，例如智能供应链服务（SSC而不是SCS），这些服务专注于物流，并且通过与该组的其他部分链接来有增长的机会。“肯定有一个智能照明的物联网维度。与物联网有智能嵌入式业务的重叠趋势。”亚当斯说。
他说：“我们在马来西亚和巴西使用的包装类型比LED包装更先进，因此有机会增加价值和我们将要探索的东西。”
“我们正在进行多元化的游戏，以发展和扩展业务，我们期待扩大我们的团队。”
www.smartg..com，，，，www.smartm.com，，，，www.smartembedded.com，，，，
www.smartsscs.comandwww.penguincomputing.com
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