Friday, August 12, 2016

Hewlett Packard Enterprise Buys SGI For $275M

Palo Alto-based Hewlett Packard Enterprise (HPE) and Milpitas-based SGI said that HPE is buying SGI for $275M, paying $7.75 per share in cash for the company. According to HPE, the deal will help it extend its growth in the big data and high performance computing (HPC) market. SGI has approximately 1,100 employees and revenues of $533M in its fiscal 2016, according to the companies.