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Hewlett Packard Enterprise To Purchase Cray in $1.30 Billion Deal

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Hewlett Packard Enterprise To Purchase Cray in $1.30 Billion Deal

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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Hewlett Packard Enterprise To Purchase Cray in $1.30 Billion Deal

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