HP Enterprise Climbs Midday After the $ 1.3B Cray Deal by Investing.com
© Reuters. Investing.com – High-end computing is becoming more competitive. Hewlett Packard Enterprises agreed to buy supercomputer pioneer Cray for $ 1.3 billion, or $ 35 per share, it said Friday.
The agreement will help HPE address rival IBM (NYSE :). The move will also help the market consolidate, Ray Wang, founder and principal analyst at Constellation Research told Techcrunch.
"This is a smart acquisition for HPE. Cray has lost money for a while but had a great portfolio of IP and patents that is the key to quantum time," Wang said.
HP Enterprise (NYSE 🙂 was up 1[ads1] , 3% after the news, while shares in Cray (NASDAQ 🙂 skyrocketed 17.4%.
Hewlett-Packard Co completed the business of spinoff enterprise services in 2017, and now it seems that HPE wants to add something more
The company already delivers supercomputer systems to the University of Notre Dame, the Pittsburgh Supercomputing Center and chemical giant BASF (DE :), as well as the US Department of Defense.
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