UndisclosedDivestiture / carve-outTechnology
Penguin Solutions to sell Cree LED to Transom
Penguin Solutions (Nasdaq: PENG), which calls itself the AI Factory Platform Company, signed a definitive agreement to sell its Cree LED business to Transom Capital Group, an operations-focused middle-market private equity firm. Penguin says the divestiture reflects its commitment to long-term shareholder value. Terms were not disclosed.
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