Shares of supercomputer seller Cray power up on $1.3 billion HP Enterprise acquisition

Credit: Proactive Investors- Published 1 week ago
Shares of Cray Inc (NASDAQ:CRAY) surged after the supercomputer developer announced an agreement to be acquired by Hewlett Packard Enterprise Company (NYSE:HPE) in a $1.3 billion deal. The agreement is worth $35 per share, a 17% premium on its Thursday close. Its stock shot up Friday to $35.22. β€œThis is an amazing opportunity...

Credit: Wochit Business
Published 1 week ago -  00:32
Hewlett Packard Enterprise To Purchase Cray in $1.30 Billion Deal
Reuters reports that Hewlett Packard Enterprise Co will purchase supercomputer manufacturer Cray Inc. The deal was announced on Friday by Cray and is valued at approximately $1.30 billion, net of cash. The purchase is expected to close by the first quarter of HPE’s fiscal year 2020. Hewlett Packard Enterprises said it expects the deal to increase its footprint in federal business and academia, as well as selling supercomputing products to its commercial clients.

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