Supercomputer maker Cray will sell its interconnect hardware development program and related intellectual property to Intel for $140 million in cash, the two companies announced today.
Up to 74 Cray employees will join Intel, Cray said. The company currently employs approximately 800 people worldwide.
"By broadening our relationship with Intel, we are positioned to further penetrate the [high-performance computing] market," said Peter Ungaro, president and CEO of Cray, in a statement.
Ungaro continued, "This agreement also dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value."
Cray said it … Read more