Deals
HP Enterprise Nears Deal to Buy Supercomputer Pioneer Cray
- California firm agrees to buy Cray for $35 a share in cash
- Purchase set to be HPE’s biggest since it was formed in 2015
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Hewlett Packard Enterprise Co. has agreed to buy U.S. supercomputer maker Cray Inc. in a deal valued at about $1.4 billion as the firm works to become more competitive in high-end computing.
Cray investors will get $35 a share in cash, the companies said in a statement on Friday, confirming an earlier Bloomberg report. That represents a premium of about 17% above Thursday’s closing price. The deal values Cray at $1.3 billion net of cash, the firms said in the statement.