From the lamp in your living room to unpleasantly bright headlights, LEDs are everywhere these days. So much so that we take them for granted, and the long, almost completely accidental road it took for them to reach a light socket near you.

SMART Global Holdings announced it has entered an agreement with Cree to purchase its LED Products business unit, known as Cree LED, for upwards of $300 million.

The agreement incorporates Cree?s Wolfspeed silicon carbide-based semiconductors into ABB?s product portfolio. Cree?s products will be included as part of ABB?s power semiconductor product portfolio

The extended agreement doubles the value of the original agreement for the supply of Cree?s 150mm silicon carbide bare and epitaxial wafers to STMicroelectronics over the next several years.