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

Published Fri, May 17 20196:23 AM EDTUpdated Fri, May 17 20197:54 AM EDT

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.