Hewlett Packard Enterprise (HPE) is buying supercomputer company Cray, the company has announced.
The deal is reportedly worth $1.3bn, net of cash. HPE will be acquiring Cray for $35 per share, in cash.
“Only by processing and analyzing this data will we be able to unlock the answers to critical challenges across medicine, climate change, space and more. Cray is a global technology leader in supercomputing and shares our deep commitment to innovation. By combining our world-class teams and technology, we will have the opportunity to drive the next generation of high performance computing and play an important part in advancing the way people live and work,” commented Antonio Neri, President and CEO, HPE.
Cray is a US-based company, headquartered in Seattle, Washington, and currently employs some 1,300 people worldwide. Its supercomputing systems, according to HPE, can handle 'massive data sets, converged modeling, simulation, AI and analytics workloads'.
The company recently signed a $600 million worth contract with the US' Department of Energy's Oak Ridge National Laboratory.
HPE says high performance computing is a 'key component' of the company's vision and growth strategy. Customer benefits could include Future HPC-as-a-Service and AI / ML analytics through HPE
GreenLake, Differentiated next-generation technology addressing data intensive workloads, and Enhanced supply chain capabilities leveraging US-based manufacturing, to name a few.
The deal is expected to be completed during Q1 of HPE's fiscal 2020 year, subject to regulatory approval.
Image Credit: Hewlett Packard Enterprise