Hewlett Packard Enterprise to Buy Supercomputer Maker Cray

(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, net of cash. The deal, expected to close by the first quarter of HPE’s fiscal year 2020, will add to its adjusted operating profit in the first full year after closing. As part of the deal, HPE expects to incur one-time integration costs that will be absorbed within its fiscal year 2020 free cash flow outlook of $1.9 billion to $2.1 billion that remains Cray has U.S.-based manufacturing operations and about 1,300 employees worldwide.

Source: www.reuters.com