Penguin Solutions Announces Agreement to Transfer 19% Stake in Zilia Technologies

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announced through an 8-K filing that SMART Modular Technologies (LX) S.à r.l., a subsidiary, has entered into a Stock Transfer Agreement to sell its 19% interest in Zilia Technologies to Lexar Europe B.V. The transaction, valued at $46.08 million, is expected to close on March 30, 2026, or later if requisite approvals are not obtained. This agreement follows a previous transaction in November 2023 where Lexar acquired an 81% interest in Zilia, making it a wholly-owned subsidiary upon the completion of this latest transaction.

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About Penguin Solutions Inc.

Penguin Solutions Inc. is a cutting-edge technology company that focuses on providing innovative engineering services and software solutions. Headquartered in the United States, Penguin Solutions specializes in high-performance computing, cloud enablement, and electronic design automation. The primary function of the company is to support businesses in enhancing their technological capabilities by offering tailored solutions that streamline operations and improve efficiency. Penguin Solutions is integral to sectors such as telecommunications, aerospace, and automotive industries, where precision and high-efficiency computing are critical. The company is a notable player in the financial market due to its role in pioneering advancements in software and hardware integration, making it a valuable partner for enterprises looking to keep pace with rapid technological changes. Through its diverse portfolio, Penguin Solutions fosters significant improvements in productivity, contributing substantially to technological innovation and implementation across various industries.