|This Slide: #56 of 68|
Slide #56. Cray Inc. — Appro International, Inc.
Cray Inc. (CRAY)
Appro International, Inc.
Global supercomputer leader Cray Inc. announced it has completed the previously announced transaction to acquire Appro International, Inc. The aggregate merger consideration paid by Cray was approximately $21.8 million in cash, which reflects approximately $3.2 million in deductions from the previously-announced $25 million purchase price (for certain transaction expenses paid and working capital adjustments) that were made in connection with the acquisition. The agreement was previously announced on Nov. 9, 2012.
Cray designs, develops, manufactures, markets and services the high performance computing (HPC) and data analytics and artificial intelligence (AI) markets. These products include compute systems known as supercomputers, as well as storage, data analytics and AI solutions utilizing the computing systems. Co. also provides related software and system maintenance, support, and engineering services. Co.'s customers include domestic and foreign government and government-funded entities, academic institutions and commercial entities. Co.'s primary target markets are the supercomputing portion of the HPC market and the big data market including storage and AI solutions.
Open the CRAY Page at The Online Investor »
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite