-

Penguin Solutions Divests Remaining Interest in Brazil Memory Module Business

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (“Penguin Solutions” or the “Company”) (Nasdaq: PENG) today announced that SMART Modular Technologies (LX) S.à r.l. (“Seller”), a wholly owned indirect subsidiary of the Company, closed the transaction contemplated by that certain Stock Transfer Agreement (the “Stock Transfer Agreement”) entered into on December 29, 2025, by and among Seller, Lexar Europe B.V. (“Buyer”), Zilia Technologies Indústria e Comércio de Componentes Eletrônicos Ltda. (“Zilia Technologies”) (formerly SMART Modular Technologies do Brasil - Indústria e Comércio de Componentes Ltda.), Shenzhen Longsys Electronics Co., Ltd., and Shanghai Intelligent Memory Semiconductor Co., Ltd. (上海慧忆半导体有限公司).

On March 30, 2026, pursuant to the Stock Transfer Agreement, Seller sold to Buyer Seller’s remaining 19% interest in Zilia Technologies for a purchase price of $46.08 million (the “Transaction”). As of the closing of the Transaction, Seller no longer holds any interest in Zilia Technologies.

The Buyer previously purchased eighty-one percent (81%) of Seller’s interest in the issued and outstanding quotas of Zilia Technologies pursuant to a stock purchase agreement in November 2023.

Zilia Technologies assembles and tests standards-based, commodity memory modules for electronics manufacturers that sell devices to Brazilian consumers.

About Penguin Solutions

The most transformative technological advancements are often the hardest to deploy and optimize. Penguin Solutions, an AI factory platform company, has the innovative technologies, skills, experience, and partnerships needed to turn your AI ambitions into reality.

In addition to our AI capabilities, Penguin Solutions offers memory and LED solutions serving a wide range of high-performance and specialized applications.

For more information, visit www.penguinsolutions.com.

Contacts

Investor Contact
Suzanne Schmidt
Investor Relations
(510) 360-8596
ir@penguinsolutions.com

PR Contact
Maureen O’Leary
Penguin Solutions Corporate Communications
(602) 330-6846
pr@penguinsolutions.com

Penguin Solutions, Inc.

NASDAQ:PENG
Details
Headquarters: Fremont, California USA
CEO: Kash Shaikh
Employees: 2765
Organization: PUB
Revenues: $1.73B (2026)

Release Summary
Penguin Solutions today announced the sale of its remaining 19% interest in Zilia Technologies Brazil for $46.08M per the Stock Transfer Agreement.
Release Versions
$Cashtags

Contacts

Investor Contact
Suzanne Schmidt
Investor Relations
(510) 360-8596
ir@penguinsolutions.com

PR Contact
Maureen O’Leary
Penguin Solutions Corporate Communications
(602) 330-6846
pr@penguinsolutions.com

Social Media Profiles
More News From Penguin Solutions, Inc.

Penguin Solutions Introduces CXL-Enabled DDR4 Module to Help Address Memory Shortages in AI Data Centers

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (Nasdaq: PENG), the AI Factory Platform Company, today introduced the SMART CXL-8F2W-D4, an eight-DIMM DDR4 Compute Express Link® (CXL) memory add-in card that enables organizations to adapt DDR4 memory for use in AI systems. Using DDR4 as an alternative to newer-generation DDR5 memory provides an innovative approach offering performance, sourcing, and economic benefits for the buildout of AI infrastructure. According to TechInsights, In...

Penguin Solutions Launches AI Platform Operations Services to Accelerate Customers’ Time to Value and Safeguard SLA Achievement

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (Nasdaq: PENG), the AI Factory Platform Company, today announced AI Platform Operations Services for assuring the seamless operation of AI infrastructure. Designed for neoclouds and enterprises that must meet strict performance SLAs, this highly specialized service brings together the operations and engineering expertise and cross-domain coordination required to keep AI factories running efficiently, helping customers to achieve their hi...

Penguin Solutions Announces Agreement to Sell Cree LED to Transom Capital Group

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (“Penguin Solutions,” “Penguin,” or the “Company”) (Nasdaq: PENG), the AI Factory Platform Company, today announced that it has entered into a definitive agreement to sell its Cree LED business (“Cree LED”) to Transom Capital Group (“Transom”), a leading operations-focused middle-market private equity firm. The planned divestiture reflects Penguin Solutions’ commitment to creating long-term shareholder value. It will further align the Co...
Back to Newsroom