Intel has announced its purchase of supercomputing assets from Cray Inc.
The final price is $140 million and should give the company a leg-up in the ultra high-performance computer market.
74 Cray employees will join Intel when the deal closes at the end of the quarter which Cray says will also lead to cost savings for the company in the next few years.
Additionally, the Cray Chief Executive Peter Ungaro says the agreement "dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value." Intel made a similar comment, saying "interconnect is another area in high-performance computing that's ripe for innovation. Cray has the best-in-class personnel and IP to do that with."
Cray's assets will help Intel which has been moving quickly into supercomputing. The assets will help the company reach "exascale" computing performance (quintillion operations per second) by 2018, says Intel.
74 Cray employees will join Intel when the deal closes at the end of the quarter which Cray says will also lead to cost savings for the company in the next few years.
Additionally, the Cray Chief Executive Peter Ungaro says the agreement "dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value." Intel made a similar comment, saying "interconnect is another area in high-performance computing that's ripe for innovation. Cray has the best-in-class personnel and IP to do that with."
Cray's assets will help Intel which has been moving quickly into supercomputing. The assets will help the company reach "exascale" computing performance (quintillion operations per second) by 2018, says Intel.
