Wednesday, April 25, 2012

Cray Sells Of Interconnect Hardware Program To Intel

Seattle-based supercomputer maker Cray said late Tuesday that it is in a definitive agreement to sell its interconnect hardware development program and related intellectual property to Intel. Cray said the deal is worth $140M in cash, and will result in the move of 74 Cray employees to Intel. The computer maker said the move would help to "dramatically" strengthen its balance sheet.