Penguin Solutions agrees to sell Cree LED to Transom Capital Group
PENG•PENG•PENG•PENG•Penguin Solutions agreed to sell Cree LED to Transom Capital Group for cash, with closing expected in the first calendar quarter of 2027. Fiscal 2027 guidance remains unchanged and includes Cree LED at approximately 10% of projected net sales.
Penguin Solutions agreed to sell Cree LED to Transom Capital Group for cash. The closing is expected in the first calendar quarter of 2027, subject to customary conditions. The sale will leave Cree LED as a standalone business and sharpen Penguin Solutions’ focus on data center AI infrastructure and memory.
Penguin Solutions said its fiscal 2027 guidance remains unchanged, with Cree LED contributing approximately 10% of projected net sales. It plans to update guidance following closing to reflect the divestiture and related financial impacts.
