Solectron sells its SMARTs

Solectron has signed an agreement to sell SMART Modular Technologies and its other affiliated SMART Modular Technologies companies for approximately $100 million in cash.

Solectron has signed an agreement to sell SMART Modular Technologies and its other affiliated SMART Modular Technologies companies to Texas Pacific Group, Francisco Partners and Shah Management.

Fremont, CA-based SMART Modular Technologies is a manufacturer of memory and communications products for the computing, networking and telecommunications industries.

Under the terms of the agreement, Texas Pacific Group, Francisco Partners and Shah Management will acquire SMART Modular for approximately $100 million in cash.

Solectron will retain SMART Modular’s Aguadilla and Mayaguez, Puerto Rico, sites that perform electronics assembly services.

The transaction is part of Solectron’s previously announced plan to sell certain assets that are not central to the company’s future strategy. Earlier this month, Solectron sold its DY4 Systems business to the Curtiss-Wright Corporation for approximately $110 million.