Cray announced it signed a definitive agreement to acquire Appro International, 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 number-three provider on the Top100 supercomputer list, Appro builds high performance computing (HPC) cluster systems.
"Cray has always been a company with a singular focus on the high performance computing market, and with this acquisition, we have strengthened that commitment and will now be positioned to expand our portfolio of highly innovative supercomputing solutions," said Peter Ungaro, president and CEO of Cray. "Appro is one of the market leaders in HPC cluster solutions, and this acquisition is another step forward as we continue to transform Cray into a company that provides world-class offerings to customers across all segments of the supercomputing market, including Big Data."
Upon closing, Appro will become Cray's newly-formed Cluster Solutions business, led by Daniel Kim, current CEO of Appro. After the completion of the transaction, Cray expects to add approximately 90 Appro employees, and Cray will sell Appro's HPC cluster products under the Cray brand.
For more information, visit Cray and Appro.
Sources: Press materials received from the company and additional information gleaned from the company's website.
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