SMART Modular Technologies Announces Agreement to Be Acquired by Silver Lake Partners and Silver Lake Sumeru, $9.25 Per Share (SMOD)

SMART Modular TechnologiesSMOD, a leading independent manufacturer of memory modules and solid state storage products, today announced that it has entered into a definitive agreement to be acquired by Silver Lake Partners and Silver Lake Sumeru for $9.25 per share in cash. The transaction is valued at approximately $645 million. The offer price represents a 23% premium over the average closing price for the previous 30 trading days and a 46% premium over the average closing price for the previous 52-week period.