Cray Agrees to Sell Interconnect Hardware Assets to Intel
Company to Host Conference Call to Discuss the Definitive Agreement
Global supercomputer leader Cray Inc. (CRAY - News) today announced it signed a definitive agreement to sell its interconnect hardware development program and related intellectual property to Intel Corporation (INTC - News) for $140 million in cash.
"This agreement is evidence of the leadership position we've established in high performance computing, and is an exciting win for our customers, our company and our shareholders," said Peter Ungaro, president and CEO of Cray. "By broadening our relationship with Intel, we are positioned to further penetrate the HPC market and expand on our industry-leading technologies in support of our Adaptive Supercomputing vision.
- Published: 25 April 2012
- Written by Editor