Cray to Acquire Appro International for $25M in Cash Deal
Cray Inc. (NASDAQ: CRAY) today announced it signed a definitive agreement to acquire Appro International, Inc., 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 #3 provider on the Top100 supercomputer list, Appro builds some of the world's most advanced high performance computing (HPC) cluster systems.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.