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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Cray Inc.    CRAY

CRAY INC.

(CRAY)
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Hewlett Packard Enterprise to buy supercomputer maker Cray in $1.30 billion deal

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05/17/2019 | 12:18pm EDT
A trader passes by the post where Hewlett Packard Enterprise Co., is traded on the floor of the New York Stock Exchange

(Reuters) - Supercomputer manufacturer Cray Inc said on Friday it would be bought by Hewlett Packard Enterprise Co in a deal valued at about $1.30 billion, net of cash.

The $35 per share value represents a premium of 17.4% to Cray's last close.

HPE said it expects the deal to increase its footprint in federal business and academia, and sell supercomputing products to its commercial clients.

The deal, expected to close by the first quarter of HPE's fiscal year 2020, will add to its adjusted operating profit in the first full year after closing.

As part of the deal, HPE expects to incur one-time integration costs that will be absorbed within its fiscal year 2020 free cash flow outlook of $1.9 billion to $2.1 billion that remains unchanged.

Seattle-headquartered Cray has U.S.-based manufacturing operations and about 1,300 employees worldwide. It earned $456 million in revenue in its last fiscal year.

Cray's supercomputing systems can handle massive data sets, converged modeling, simulation, artificial intelligence, and analytics workloads.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Shounak Dasgupta)

Stocks treated in this article : Cray Inc., Hewlett Packard Enterprise
Stocks mentioned in the article
ChangeLast1st jan.
CRAY INC. 0.41% 34.69 Delayed Quote.60.03%
HEWLETT PACKARD ENTERPRISE 2.03% 14.59 Delayed Quote.8.25%
VALUE8 -0.36% 5.56 Delayed Quote.17.72%
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Financials ($)
Sales 2019 467 M
EBIT 2019 -70,4 M
Net income 2019 -
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
Capi. / Sales 2019 3,07x
Capi. / Sales 2020 2,66x
Capitalization 1 434 M
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Mean consensus HOLD
Number of Analysts 3
Average target price 35,0 $
Spread / Average Target 0,40%
Managers
NameTitle
Peter Joseph Ungaro President, Chief Executive Officer & Director
Stephen C. Kiely Non-Executive Chairman
Wayne J. Kugel Senior VP-Operations & Customer Support
Brian C. Henry Chief Financial Officer & Executive Vice President
Steven Lee Scott Chief Technology Officer & Senior Vice President
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