HPE Completes Acquisition of Supercomputing Leader Cray, Inc.
25 Septiembre 2019 - 7:00AM
Business Wire
Acquisition expands industry-leading portfolio in fast-growing
HPC and AI market segments, accelerates strategy to tackle
customers’ most data-intensive challenges
Hewlett Packard Enterprise (NYSE:HPE) today announced it has
completed the acquisition of supercomputing leader Cray Inc.,
earlier than the original target date. HPE paid $35.00 per share,
in a transaction valued at approximately $1.4 billion, net of
cash.
The explosion of data is driving a significant expansion of high
performance computing (HPC) as customers seek to unlock the power
of their data through artificial intelligence, machine learning,
and big data analytics, requiring technologies that can power
exascale-class performance. Over the next three years, the HPC
segment of the market and associated storage and services is
expected to grow from approximately $28 billion in 2018 to
approximately $35 billion in 20211.
HPC is a key component of HPE’s vision and growth strategy as it
provides the backbone to process, analyze and extract insights from
massive amounts of data. The combination of HPE and Cray is
expected to deliver significant customer benefits and future
offerings including:
- Enhanced portfolio: Extends HPE’s industry-leading HPC and AI
portfolio, which provides more choice and flexibility for data
intensive workloads;
- Technology innovation: Increases R&D infrastructure and
expertise to accelerate development of new products and
solutions;
- Service and support: Augments worldwide capabilities and
coverage, especially within supercomputing, where high customer
touch is paramount;
- Exascale leadership: Supercomputing leadership demonstrated by
winning the first three exascale systems in the United States;
and
- HPC-as-a-Service and AI / ML analytics through HPE GreenLake
offering customers choice, flexibility and speed to market.
“Bringing together Cray and HPE establishes the most
comprehensive end-to-end portfolio across compute, storage,
software and services in the fast-growing high performance
computing and artificial intelligence market segments,” said Phil
Davis, president, Hybrid IT, Hewlett Packard Enterprise. “But, the
real value is what we can accomplish together as one team. We are
united in our vision to be a global leader in high performance
computing. By combining the teams’ deep expertise and R&D
engines, we are better positioned to help our customers solve their
most data-intensive challenges both today and well into the
future.”
As part of the acquisition, Cray president and CEO Peter Ungaro,
will join HPE as head of the HPC and AI business unit in Hybrid
IT.
“For almost 50 years, Cray has been dedicated to being a leader
in supercomputing in support of our customers’ most important
missions,” said Peter Ungaro, president and CEO at Cray. “Cray and
HPE have a shared vision for the new exascale era, and by joining
forces, we’re offering the promise of Cray’s technology to an
expanded market with the opportunity to leverage HPE’s breadth,
scale and innovation to bring supercomputing to the enterprise. I’m
excited for this next chapter, and on behalf of our company and
Board of Directors I’d like to thank our valued customers,
partners, shareholders and, of course, our employees, for all of
their contributions in making Cray a leader in high-performance
computing.”
Both HPE and Cray continue to win new customers. For instance,
in the last two quarters, The Department of Energy has selected
Cray’s Shasta supercomputing systems and Slingshot interconnect for
the first three exascale systems in the United States. Cray has
generated more than $1.5B in bookings to date for its new Shasta
supercomputing systems.
HPE also recently announced a four-year, multi-phase
collaboration between HPE and NASA’s Ames Research Center to build
a new supercomputer, which NASA has named “Aitken,” based on the
HPE SGI 8600 system. Aitken will support modeling and simulations
of entry, descent and landing for future lunar landings.
Together, HPE and Cray will create greater opportunities for
growth -- and lead the exascale era of high performance computing
through an integrated platform, broader scale and combined
resources.
Transaction Details
Cray is another example of HPE successfully accelerating its
strategy and enhancing its competitive position through
acquisitions. Bringing together HPE and Cray enables an enhanced
financial profile for the combined company. The acquisition is
expected to be accretive to HPE non-GAAP operating profit and
earnings in HPE’s fiscal year 2020. HPE will discuss how the
integration of Cray supports significant economic upside through
enhanced growth and profitability at its Securities Analyst Meeting
on October 23, 2019.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise is a global technology leader focused
on developing intelligent solutions that allow customers to
capture, analyze and act upon data seamlessly from edge to cloud.
HPE enables customers to accelerate business outcomes by driving
new business models, creating new customer and employee
experiences, and increasing operational efficiency today and into
the future.
Forward-looking Statements
This document contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve risks,
uncertainties and assumptions. If such risks or uncertainties
materialize or such assumptions prove incorrect, the results of HPE
and its consolidated subsidiaries could differ materially from
those expressed or implied by such forward-looking statements and
assumptions. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements, including, but not limited to, any statements regarding
the expected benefits and costs of the transaction contemplated by
this document, including enhanced opportunities for growth, the
delivery of customer benefits and the realization of synergies and
other economic benefits; projections of revenue, expenses, net
earnings, operating profit, cash flows, or other financial items;
any statements concerning the expected development, performance,
market share or competitive performance relating to products or
services; any statements regarding current or future macroeconomic
trends or events and the impact of those trends and events on HPE
and its financial performance; any statements of expectation or
belief; and any statements of assumptions underlying any of the
foregoing. Risks, uncertainties and assumptions include the
possibility that expected benefits may not materialize as expected;
that the integration of the acquisition post-closing may not occur
as anticipated, and the combined companies’ ability to achieve the
growth prospects and synergies expected from the transaction, as
well as delays, challenges and expenses associated with integrating
the combined companies’ existing businesses may incur; that the
parties are unable to successfully implement integration
strategies; the need to address the many challenges facing HPE's
business; the competitive pressures faced by HPE; risks associated
with executing strategy; the impact of macroeconomic and
geopolitical trends and events; the development and transition of
new products and services and the enhancement of existing products
and services to meet customer needs and respond to emerging
technological trends and other risks that are described in HPE’s
SEC reports, including but not limited to the risks described in
HPE’s Annual Report on Form 10-K for its fiscal year ended October
31, 2018, and subsequent quarterly reports on Form 10-Q, and that
are otherwise described or updated from time to time in other
filings with the SEC. HPE assumes no obligation and does not intend
to update these forward-looking statements.
1 Source: Hyperion May 2019
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version on businesswire.com: https://www.businesswire.com/news/home/20190925005236/en/
Editorial contact Stefanie.notaney@hpe.com Stefanie Notaney,
HPE
Investor Relations contact Investor.relations@hpe.com Andrew
Simanek, HPE
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