By Aled Herbert
Published: 2 March 2000 16:33 GMT
US supercomputer maker, Tera Computer, has bought the Cray Research supercomputer business unit from SGI for an undisclosed fee.
Reports estimate the deal to be worth $100m, considerably less than the $740m paid by SGI when it bought the company in 1996.
The unit will be rebranded as Cray and has predicted annual revenues of over $200m, a $2bn installed base of just over 600 computers worldwide and approximately 900 employees.
In a written statement, Jim Rottsolk, CEO and president of Tera, said the company was well placed to drive the expansion of the supercomputing and high-performance computing markets, particularly the enterprise and server markets comprising the Internet backbone.
IDC forecasts the total high-performance computing market as growing steadily from $5bn this year to about $7.5bn in 2003.
The deal is subject to regulatory approval.
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