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Hewlett Packard to acquire Cray in $1.3B deal

Hewlett Packard to acquire Cray in $1.3B deal Photo: MGN

May 17, 2019 09:41 PM

Hewlett Packard Enterprise on Friday announced it has agreed to purchase supercomputer manufacturer Cray Inc.

The transaction is valued at approximately $1.3 billion, according to a press release from Cray.

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The acquisition aims to accelerate HPE's strategy to tackle customers' most data-intensive challenges by combining deep supercomputing talent and cutting-edge technologies, the release said.

The group expects growth in the high performance computing segment of the market and storage services to grow from $28 billion in 2018 to $35 billion in 2021.

Cray was founded in Chippewa Falls, Wisconsin with business headquarters in Minneapolis, according to the company's website. The company also moved one of its offices to Bloomington across from Mall of America in 2017.

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