- SMART Global Holdings ( NASDAQ: SGH ) entered into a definitive agreement with Siris Capital Group affiliates to acquire Stratus Technologies.
- SGH is set to pay $225M in cash at closing and an earnout payment of up to $50M.
- The transaction, subject to requisite regulatory approvals and satisfaction of customary closing conditions, is expected to be immediately accretive to SGH's gross margin, non-GAAP EPS and free cash flow.
- The transaction is expected to close in H2.
- SGH shares were trading -8.23% post-market.
- Source: Press Release
For further details see:
SMART Global Holdings to acquire Stratus Technologies