Hewlett Packard Enterprises (HPE) is acquiring Cray, a supercomputer manufacturer, for $35 per share. The value of the transaction is $1.3 billion in cash.
Cray is a primary provider of high-end supercomputing solutions to customers with the most challenging, data-intensive workloads for making critical decisions. It holds a leadership position in the top 100 supercomputer installations around the world.
Its supercomputing systems are capable of handling massive data sets, converged modeling, simulation, AI, and analytics workloads.
The $35 per share acquisition price is 17.4 percent higher than the $29.81 previous closing price of Cray shares. On Frida y, the stock price of Cray surged more than 22 percent to $35.52 per share following the announcement of the transaction.
Combined company will have better opportunities for growth
According to HPE, Cray will accelerate and expand its high performance computing (HPC) portfolio. Its plan is to leverage Cray’s foundational technologies and add complementary solutions.