SMART Modular Technologies (SMOD)

[eastunder]

Smart Modular to be taken private for $645 mln

Tue Apr 26, 2011 8:54am EDT

* Deal for $9.25 per share in cash

* Deal expected to close in Q3 (Follows alerts)

April 26 (Reuters) - Chipmaker Smart Modular Technologies WWH Inc said it agreed to be taken private by buyout firm Silver Lake Partners and its Silver Lake Sumeru unit in a cash deal that it said valued it at about $645 million.

Silver Lake will pay $9.25 for each Smart Modular share, a premium of 13 percent over the chipmaker's Monday close.

Barclays Capital is serving as financial adviser for the deal, which is expected to close in the third quarter.

Newark, California-based Smart Modular's shares closed at $8.175 on Monday on Nasdaq. (Reporting by Swati Chitnis; Editing by Ian Geoghegan)