Penguin Solutions Agrees To Sell Cree LED Business To Transom Capital Group; Financial Terms Undisclosed
Benzinga Newsdesk 4 hours ago
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Transaction marks another milestone in Penguin’s transformation into a pure-play data center AI infrastructure solutions companyPenguin Solutions, Inc. ("Penguin Solutions," "Penguin," or the
Transaction marks another milestone in Penguin’s transformation into a pure-play data center AI infrastructure solutions company
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.
Under the terms of the definitive agreement, Transom will acquire Cree LED in an all-cash transaction. The transaction is expected to close in the first calendar quarter of 2027, subject to the satisfaction of customary closing conditions.