SGH to Divest Majority Stake of SMART Modular Brazil

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Jun 13, 2023

SMART+Global+Holdings, Inc. (“SGH” or the “Company”) (NASDAQ: SGH) today announced that the Company, through its wholly owned subsidiary SMART Modular Technologies (LX) S.à.r.l., has entered into an agreement to sell an 81% interest in SMART Modular Technologies do Brasil – Indústria e Comércio de Componentes Ltda. (“SMART Brazil”) to Lexar Europe B.V., an affiliate of Shenzhen Longsys Electronics Co., Ltd. for approximately $166 million in cash consideration. The purchase price values 100% of SMART Brazil at an initial enterprise value of $205 million.