Hewlett Packard Enterprise to buy supercomputer maker Cray in a $1.3 billion deal

New server racks in the Hewlett Packard Enterprise Executive Briefing Center feature the new branding.
Source: Hewlett Packard Enterprise

Supercomputer manufacturer Cray said on Friday it would be bought by Hewlett Packard Enterprise in a deal valued at about $1.3 billion.

The $35 per share value represents a premium of 17.4% to Cray's last close. The deal is expected to close by the first quarter of HPE's fiscal year 2020.

The deal was originally reported by Bloomberg.

Next Article

Third fatal Tesla Autopilot crash renews questions about the system

Key Points
  • Tesla's Autopilot system was engaged during a fatal March 1 crash of a 2018 Model 3 in Delray Beach, Florida.
  • It was at least the third fatal U.S. crash reported involving the driver-assistance system, the National Transportation Safety Board said.
  • Separately, Chief Executive Officer Elon Musk told employees that he will increase scrutiny of the company's expenses in his latest initiative to cut costs at the electric car maker.