Silver Lake Buys Smart Modular

Buyout shop Silver Lake Partners will acquire Smart Modular Technologies in a cash deal that values the company at roughly $645 million, Reuters reported. Smart Modular is a maker of memory chips. Silver Lake and its unit Silver Lake Sumeru will pay $9.25 for each Smart Modular share, a premium of 13% over the chipmaker's Monday close. Silver Lake has roughly $14 billion under management.

DealsNorth AmericaUSBriefs