LMS Capital Says Smart Global Acquires Penguin Computing

LONDON (Alliance News) - LMS Capital PLC said Wednesday that is has been informed by the general partner of San Francisco Equity Partners Fund 1 of the sale of Penguin Computing Inc, in which LMS owns a 19% stake.

The company owns its interest via its holding in SFEP 1 and through a directly held co-investment. At March 31 2018, the company reported a carrying value of GBP1.7 million for its directly held co-investment and GBP10.9 million for the interest held via the fund.

Penguin, which supplies enterprise and high performance computing and cloud computing solutions, has been sold to Smart Global Holdings Inc for up to USD85 million.

The company said it has not received sufficient information regarding the sale to be able to determine its effects on its net asset value. At March 31 2018, Penguin's holding represented 20.9% of the company's estimated net asset value.

LMS shares were trading up 1.0% at 50.90 pence each.

Lms Capital