Hewlett Packard Enterprise to Acquire SGI to Extend Leadership in High Growth Big Data Analytics and High Performance Computing
MILPITAS, CA--( Aug 11, 2016) - SGI ( NASDAQ : SGI ) Strengthens position in $11 billion HPC segment which is growing at an estimated 6-8% CAGR, and in the data analytics segment, which is growing at over twice that rate
Expands presence in key HPC verticals such as government, research, and life sciences
SGI ( NASDAQ : SGI ), a global leader in high-performance solutions for compute, data analytics, and data management, today announced that it has signed a definitive agreement to be acquired by Hewlett Packard Enterprise (HPE) for $7.75 per share in cash, a transaction valued at approximately $275 million, net of cash and debt.
SGI products and services are used for high-performance computing (HPC) and big data analytics in the scientific, technical, business and government communities to solve challenging data-intensive computing, data management and virtualization problems. The company has approximately 1,100 employees worldwide, and had revenues of $533 million in fiscal 2016.
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Published: 12 August 2016
Written by Editor