Penguin Solutions to sell 19% Zilia stake to Lexar Europe for $46.08 million
Penguin Solutions' indirect subsidiary SMART Modular Technologies (LX) agreed on December 29, 2025 to sell its 19% interest in Zilia Technologies to Lexar Europe B.V. for $46.08 million. Closing is expected on March 30, 2026, or by April 28, 2026 if certain Parent Group Company approvals are not obtained by March 30, 2026. The filing does not state a financial effect on Penguin Solutions' results, but it ends the company's remaining stake in Zilia.
Key points
- Purchase price: $46.08 million for Seller's 19% interest in Zilia
- Buyer Lexar Europe B.V. previously bought the other 81% of Seller's Zilia interest in November 2023
- Expected closing: 4:00 p.m. Pacific Time on March 30, 2026; latest date April 28, 2026 if approvals are delayed
- Closing is subject to customary closing conditions; the full agreement will be filed with the Form 10-Q for the quarter ended November 28, 2025
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 30, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.