Penguin Solutions, Inc. (“Penguin Solutions,” “Penguin,” or the “Company”) (Nasdaq: PENG), the AI Factory Platform Company, today announced that it has entered into a definitive agreement to sell its Cree LED business (“Cree LED”) to Transom Capital Group (“Transom”), a leading operations-focused middle-market private equity firm. The planned divestiture reflects Penguin Solutions’ commitment to creating long-term shareholder value. It will further align the Company’s portfolio, resou…