Penguin Solutions Inc., through its wholly owned indirect subsidiary SMART Modular Technologies $(LX)$ S.à r.l., has entered into a Stock Transfer Agreement to sell its remaining 19% interest in Zilia Technologies Indústria e Comércio de Componentes Eletrônicos Ltda. to Lexar Europe B.V. for $46.08 million. Upon closing, Zilia will become a wholly-owned subsidiary of Lexar Europe B.V., and Penguin Solutions will no longer hold any interest in Zilia. The closing of the transaction is subject to customary conditions and is expected to occur on March 30, 2026, or no later than April 28, 2026, if requisite approvals are delayed. Previously, Lexar Europe B.V. had acquired an 81% interest in Zilia from SMART Modular Technologies in November 2023.

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