XML 112 R27.htm IDEA: XBRL DOCUMENT v3.2.0.727
Subsequent Event
12 Months Ended
Jun. 28, 2015
Subsequent Events [Abstract]  
Subsequent Event [Text Block]
Subsequent Event
On July 8, 2015, the Company closed on the acquisition of Arkansas Power Electronics International, Inc. (APEI), a global leader in power modules and power electronics applications, pursuant to a merger agreement with APEI and certain shareholders of APEI, whereby the Company acquired all of the outstanding share capital of APEI in exchange for a base purchase price of $13.9 million, subject to certain post-closing adjustments.  In addition, if certain goals are achieved over the next two years, additional cash payments totaling up to $4.6 million may be made to the former APEI shareholders.  In connection with this acquisition, APEI became a wholly owned subsidiary of the Company, renamed Cree Fayetteville, Inc. (Cree Fayetteville).  Cree Fayetteville will not be considered a significant subsidiary of the Company.