Penguin Solutions divests remaining interest in Brazil memory module business

Penguin Solutions (PENG) announced that SMART Modular Technologies closed the transaction contemplated by that certain Stock Transfer Agreement entered into on December 29, 2025, by and among Seller, Lexar Europe, Zilia Technologies Industria e Comercio de Componentes Eletronicos, Shenzhen Longsys Electronics, and Shanghai Intelligent Memory Semiconductor. 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 $46.08M. As of the closing of the Transaction, Seller no longer holds any interest in Zilia Technologies. The Buyer previously purchased eighty-one percent 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.