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"Two super-duper computing firms are to become one as Cray today announced that it has agreed to purchase Appro International, a privately-held developer of 'scalable supercomputing solutions', for approximately $25 million in cash.\r\n\r\nThe acquisition price assumes at least a $3.5 million net working capital balance at closing, sans debt.\r\n\r\nHeadquartered in Silicon Valley and currently the #3 provider on the Top100 supercomputer list, according to the release,  Appro has builds advanced high-performance computing (HPC) cluster systems.\r\n\r\nThe company was founded in the early 1990s.\r\n\r\nNotably, Intel acquired Cray's high-performance computing interconnect program back in April 2012.\r\n\r\nComments Peter Ungaro, president and CEO of Cray:\r\n\r\n&amp;quot;Appro is one of the market leaders in HPC cluster solutions, and this acquisition is another step forward as we continue to transform Cray into a company that provides world-class offerings to customers across all segments of the supercomputing market, including Big Data.&amp;quot;\r\n\r\nUpon closing of the deal, Appro will become Cray's newly-formed &amp;quot;Cluster Solutions&amp;quot; business, led by Daniel Kim, current CEO of Appro. Cray will sell Appro's HPC cluster products under its own brand.\r\n\r\nApproximately 90 Appro employees will join Nasdaq-listed Cray as a result of the acquisition.\r\n\r\nIn other but related news, Cray also announced financial results for the third quarter ended September 30, 2012, earlier today.\r\n\r\nThe company booked a net loss of $5.2 million on revenue of $35.7 million for the quarter.\r\n\r\nImage credit: Justin Sullivan / Getty Images"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/insider/2012/11/09/a-marriage-in-supercomputing-land-cray-acquires-appro-for-25-million-in-cash/>