Penguin Solutions announced on November 4 that it had entered into a definitive agreement to sell its Cree LED business to private equity firm Transom Capital Group (Transom). Cree LED has long played an important role in the industry as one of the pioneers in bringing LED technology into general lighting applications. TrendForce believes the change in ownership could allow the company to sharpen its focus on its core LED business, with future product strategies likely to emphasize luminous efficacy, cost competitiveness, and comprehensive lighting solutions. The c...

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. The planned divestiture reflects Penguin Solutions’ commitment to creating long-term shareholder value. It will further align the Company’s portfolio, resou...