Cray to Sell Interconnect Hardware Assets to Intel

Today Cray today announced it signed a definitive agreement to sell its interconnect hardware development program and related intellectual property to Intel Corporation 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. Our product roadmap remains intact as we continue to build the highly differentiated, tightly integrated supercomputers that our customers have come to expect from Cray. This agreement also dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value.”

Under the agreement, Cray will continue to develop, sell and support current product lines, as well as the Company’s next-generation supercomputer code-named “Cascade.” The transaction is expected to close relatively quickly, and as many as 74 Cray employees will join Intel. Read the Full Story.

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  1. [...] interconnects for exascale was another hot topic, and that was before news broke mid-day of Intel’s latest shopping spree. By adding Cray’s interconnect assets to the InfiniBand portfolio Intel acquired from Qlogic [...]

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