Hewlett Packard Enterprise to buy supercomputer maker Cray in $1.30 billion deal

Hewlett Packard Enterprise to buy supercomputer maker Cray in $1.30 billion deal

A trader passes by the post where Hewlett Packard Enterprise Co., is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 25, 2016. REUTERS/Brendan McDermid

(Reuters) – Supercomputer manufacturer Cray Inc said on Friday it would be bought by Hewlett Packard Enterprise Co in a deal valued at about $1.30 billion.

The $35 per share value represents a premium of 17.4% to Cray’s last close. The deal is expected to close by the first quarter of HPE’s fiscal year 2020.

Reporting by Arjun Panchadar in Bengaluru; Editing by Shounak Dasgupta

Related posts