Cray sells interconnect hardware unit to Intel
April 25, 2012 // Sylvie Barak
Supercomputer maker Cray Inc., has signed a definitive agreement to sell its interconnect hardware development program and related intellectual property to Intel Corp. for $140 million in cash.
Cray will also continue the development, sales and support of its current product lines, as well as the companys next-generation supercomputer, code-named Cascade, which will use Intel's x86 chips.
Meanwhile, the agreement also gives Cray access to certain future Intel products, according to a company statement.
Peter Ungaro, president and CEO of Cray said the agreement represented an exciting win for the firms customers, the company and its shareholders. Ungaro added that by broadening Crays relationship with Intel, the firm was better placed to push further into the HPC market and expand on other technologies related to its Adaptive Supercomputing vision.
Ungaro said Crays product roadmap remained intact and that the agreement dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value.
Prior to the deal, Cray's market capitalization stood at less than $250 million. The $140 million cash injection represents a significant boost. The reduced headcount will also save Cray money in the coming year, as the transaction is expected to close relatively quickly, even before the end of the current quarter.
Intel has been beefing up its high-performance computing portfolio with quicker interconnects over the past year, first with the acquisition of networking vendor Fulcrum Systems back in July of 2011 and then with the purchase of InfiniBand standard product lines and assets from Qlogic Corp. in January 2012 for $125 million in cash.All news
Thinnest-known LEDs open up new miniaturization horizons
March 11, 2014
Researchers from the University of Washington (UW) claim to have built the thinnest-known LED that can be used as a source ...
XP Power inks global distribution deal with Digi-Key
High voltage LEDs help simplify compact fixture design
Fullerene-free organic solar cells achieve record conversion efficiency
Abu Dhabi creates iMicro hub for microsystems research
Low-power wireless modules market reaches USD1.40bn in 2014
March 11, 2014
The global market for low-power wireless modules serving up quick wireless turnkey solutions is poised to see double-digit ...
Certification program clears market path for LED luminaires
Executive Interview: Channelling higher power into smaller packages
Energy efficient 4-Gb DDR3 memory enters mass production
- DSM presents: Select the best plastic for DDR4
- Wireless Sensor Network Challenges and Solutions
- Putting FPGAs to Work in Software Radio Systems Handbook
- Real-Time Spectrum Analysis for Troubleshooting 802.11n/ac WLAN Devices
InterviewExecutive Interview: Channelling higher power into smaller packages
EE Times Europe Power Management's editor, Paul Buckley interviews Phil Davies, VP Global Sales & Marketing of Vicor plc to discover what the leading power conversion company sees as the major technology ...
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
This month, Freescale is giving away ten RIoTboards, worth 74 dollars each, for EETimes Europe's readers to win.
Designed to run Android operating systems efficiently or to run under Linux, the board is based on the Freescale i.MX 6Solo processor; using the ARM Cortex-A9 architecture.
And the winner is...
In our previous reader offer, Crystal Display was giving...Read more
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.