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Slide #57. Cray Inc. — Appro International, Inc.
Cray Inc. (CRAY)
Appro International, Inc.
Global supercomputer leader Cray Inc. announced it signed a definitive agreement to acquire Appro International, Inc., a privately-held developer of advanced scalable supercomputing solutions, for approximately $25 million in cash, which assumes at least a $3.5 million net working capital balance at closing with no debt. Currently the #3 provider on the Top100 supercomputer list, Appro builds some of the world's most advanced high performance computing (HPC) cluster systems.
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.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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