On April 1, 2026, Penguin Solutions, Inc. (NASDAQ: PENG) announced the successful completion of a significant transaction involving the divestiture of its remaining 19% interest in Zilia Technologies Indústria e Comércio de Componentes Eletrônicos Ltda. The sale was executed by SMART Modular Technologies (LX) S.à r.l., a wholly owned indirect subsidiary of Penguin Solutions, under a Stock Transfer Agreement dated December 29, 2025. The transaction, valued at $46.08 million, marks a strategic move for Penguin Solutions as it continues to streamline its operations and focus on core business areas. Following the completion of this sale, Zilia Technologies is now a wholly-owned subsidiary of Lexar Europe B.V., which previously acquired an 81% stake in the company in November 2023. This divestiture is expected to enhance Penguin Solutions' financial flexibility and allow for reinvestment into more strategic initiatives. The company aims to leverage its innovative technologies and partnerships to drive growth in its AI and memory solutions sectors. The press release detailing this transaction emphasizes the company's commitment to optimizing its portfolio and enhancing shareholder value.

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