SMART Modular Technologies Announces Acquisition by Silver Lake for $9.25 per Share

SMART Modular Technologies, Inc.

today announced that all conditions precedent to the previously announced merger were satisfied to proceed with the acquisition of SMART by investment funds managed by Silver Lake Partners and Silver Lake Sumeru. On August 12, 2011, SMART's shareholders approved the going-private transaction at an extraordinary general meeting of shareholders. Pursuant to the definitive merger agreement among SMART, Saleen Acquisition, Inc. and Saleen Holdings, Inc., dated as of April 26, 2011, SMART shareholders will receive $9.25 per share in cash, for each ordinary share they own immediately prior to the effective time of the merger.