Sidley is representing affiliates of Siris Capital Group, LLC and Stratus Technologies (“Stratus”) in the sale of Stratus to SMART Global Holdings, Inc. (“SGH”), a holding company that provides simplified, protected, and autonomous computing solutions. Stratus delivers differentiated technology solutions to specialty end markets. The transaction will expand SGH’s customer reach and capabilities. Under the terms of the agreement, SGH will pay $225 million in cash at closing and an earn-out payment of up to $50 million, based on the gross profit performance of the Stratus business during the first full 12 fiscal months of Stratus following the closing.
The Sidley team is being led by Vijay Sekhon and Dan Clivner (M&A and Private Equity), and includes Nikita Ponomarev, Aideen Brennan, Lanna Lan, Jackson Long, Alex Newland, and Gabriella Tang (M&A and Private Equity); Christian Brause, Eric Grosshandler, and Andrew B. Smith (Tax); Kelly M. Dybala and Daniel Burkhart (Banking and Financial Services); Ellen Pesch (Insurance/Derivatives); Stephen Fronk and Zach Johnston (Technology and Life Sciences Transactions); Thomas Cunningham, Stephen McInerney, and Sasha Hondagneu-Messner (Data Privacy); Francesca Blythe and João D. Quartilho (Foreign Data Privacy/GDPR); Elizabeth McCloy and Joy Kerr (Real Estate); Maureen M. Crough and Allen Braddock (Environmental); Eric Wolf, Elizabeth T. Burns, and Morgan Oxner (Employee Benefits and Executive Compensation); Eric Hoffman (Labor and Employment); Peter McCorkell and Alex Down (Foreign Labor and Employee Benefits); Michael D. Mann (FCPA); Andrew Shoyer, Carys Golesworthy, and Kayla Scott (International Trade); Ken Daly, Rosanna Connolly, Jim Lowe, Edward W. Sharon, and Jamie M. Sadler (Antitrust/Competition); Sven De Knop and Alessandra Moroni (Foreign Direct Investment); and Marc A. Korman (FCC).