Podcast: Cray to Acquire Appro

Today Cray made a surprise announcement that the company intends to acquire Appro International, a privately-held developer of advanced scalable supercomputing solutions, for approximately $25 million in cash. Currently the #3 provider on the Top100 supercomputer list, Appro builds some of the world's most advanced high performance computing (HPC) cluster systems.

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," said Peter Ungaro, president and CEO of Cray. "I look forward to welcoming all our new Cray colleagues in this exciting moment for our company -- positioning us well for accelerated growth into the future."

In this special RichReport Podcast, Pete Ungaro discusses the Appro acquisition on the company's quarterly earnings call. Read the Full Story.